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Affordable Housing in Wellsboro: LIHTC's Impact on a Pennsylvania Borough
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Wellsboro, located in Pennsylvania, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 51 total units, with 15 designated as low-income units. Based on the 2022 population of 3,459 and an estimated 1,325 housing units in the city, LIHTC funded affordable housing comprises approximately 3.85% of the city's estimated housing inventory.
Wellsboro has received $999,844 in project tax credits through the LIHTC program. With two projects, this averages to about $499,922 per project. The average federal funding per unit is approximately $19,605. Wellsboro accounts for 0.17% of Pennsylvania's total LIHTC funding.
The city's LIHTC funded affordable housing development occurred between 2001 and 2013. The first project, Wellsboro Senior Housing, was completed in 2001, while the most recent project, Greenwood Gardens, was finished in 2013. This indicates a 12-year period of affordable housing development in the city.
The 2010s saw the most significant affordable housing development, with Greenwood Gardens being the largest project completed during this decade. The housing inventory includes a mix of unit types, with 11 one-bedroom units, 16 two-bedroom units, and 24 three-bedroom units.
Over the past decade, Wellsboro has experienced slight fluctuations in population, with an overall increase from 3,276 in 2010 to 3,459 in 2022. The median income has shown some variability, rising from $51,447 in 2013 to $53,196 in 2022. The racial composition of the city has remained predominantly white, with minimal changes in diversity over the years.
Wellsboro's LIHTC funded affordable housing inventory provides a foundation for addressing low-income housing needs. The city has leveraged nearly $1 million in tax credits to develop two projects over a 12-year period. With 51 total units and 15 low-income units, these developments contribute to the city's housing diversity. The distribution of unit sizes suggests an effort to accommodate various household compositions. While the LIHTC projects cover a small percentage of the estimated housing inventory, they represent a significant investment in affordable housing for the community.
