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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
East Brady, located in Pennsylvania, has an affordable housing landscape shaped by the Low-Income Housing Tax Credit (LIHTC) program. With a population of 1,072 in 2022, this small community has a significant LIHTC-funded affordable housing presence.
The LIHTC program has contributed to the creation of 78 affordable housing units in East Brady, all of which are designated as low-income units. Based on the estimated housing inventory of approximately 411 units, the LIHTC-funded affordable housing covers about 19% of the city's housing inventory, which aligns with the target percentage for a well-balanced city.
East Brady has received $755,191 in project tax credits through the LIHTC program. With one project, this translates to an average federal funding of $755,191 per project and $9,682 per unit. East Brady holds 0.13% of Pennsylvania's total LIHTC funding, which is significant for a small community.
The sole LIHTC project in East Brady, East Brady Heights, was completed in 2008. This development has been providing affordable housing options for over a decade, contributing to the community's long-term housing stability.
East Brady Heights offers a mix of unit types, with 73 one-bedroom units and 5 two-bedroom units. This distribution suggests a focus on accommodating smaller households and potentially serving senior citizens or young professionals.
Analyzing demographic trends over the past decade reveals patterns. The population has remained relatively stable, with a slight decrease from 1,068 in 2014 to 1,072 in 2022. Median income has shown a gradual increase, rising from $36,606 in 2014 to $42,499 in 2022, indicating a modest improvement in economic conditions.
Racial demographics have remained predominantly white, with a slight increase in diversity. The white population decreased marginally from 97% in 2014 to 95% in 2022, while the Hispanic population increased from 1% to 3% during the same period. The Asian population also saw a small increase, reaching 1% by 2022.
In summary, East Brady's LIHTC-funded affordable housing inventory plays a crucial role in meeting the community's housing needs. The single project, East Brady Heights, provides a significant number of affordable units relative to the city's size. While demographic changes have been modest, the steady increase in median income and slight diversification of the population suggest evolving housing needs that may require ongoing attention to maintain an adequate supply of affordable housing options.