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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Yorklyn, Pennsylvania, is a community with a population of 1,637 as of 2022. The city has one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project, providing 46 affordable units, all designated as low-income. Based on the estimated housing inventory of 627 units, the LIHTC funded affordable housing covers approximately 7.3% of the city's housing stock.
Yorklyn has received $420,211 in project tax credits from the LIHTC program for affordable housing. This translates to an average federal funding of $420,211 per project and $9,135 per unit. The city holds 0.07% of the total state LIHTC funding, indicating a relatively small share of Pennsylvania's affordable housing resources.
The sole LIHTC project in Yorklyn is Waverly Court Apts At Eastgate, completed in 2006. This project marks the beginning and current extent of LIHTC-funded affordable housing in the city. The 2000s decade saw the most (and only) affordable housing project completed in Yorklyn.
The project consists of 46 units, with 34 two-bedroom units and 12 three-bedroom units. This distribution suggests a focus on accommodating small to medium-sized families in the affordable housing inventory.
Over the past decade, Yorklyn's population has fluctuated, with a slight overall decrease from 1,859 in 2013 to 1,637 in 2022. The median income has shown an upward trend, rising from $56,413 in 2013 to $61,053 in 2022, indicating a potential increase in overall economic well-being.
The racial composition of Yorklyn has undergone notable changes. The white population has decreased from 79% in 2013 to 69% in 2022. Conversely, the Hispanic population has seen a significant increase from 3% in 2013 to 26% in 2022. The Black population has decreased from 11% to 4% during the same period.
Despite these demographic shifts, no new LIHTC projects have been developed in the last decade. This could be due to various factors, including changes in local housing policies, economic conditions, or shifts in housing needs that may not align with LIHTC program requirements.
Yorklyn's affordable housing landscape is characterized by a single LIHTC project providing 46 units, which covers about 7.3% of the estimated housing inventory. The project, completed in 2006, received $420,211 in tax credits, representing a small portion of Pennsylvania's LIHTC funding. While the city has experienced demographic changes, including population fluctuations, increasing median income, and significant shifts in racial composition, particularly the growth of the Hispanic population, no new LIHTC projects have been developed in recent years. This analysis provides an objective view of Yorklyn's LIHTC-funded affordable housing situation, recognizing that other programs may contribute to the overall affordable housing inventory in the city.