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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Erie, Pennsylvania, a city situated on Lake Erie, has implemented Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The city's LIHTC inventory comprises 451 total units, with 389 designated as low-income units. This represents approximately 1.26% of the city's estimated housing inventory of 35,830 units.
Erie has received $4,381,652 in project tax credits through the LIHTC program. With 19 approximate projects, this equates to an average federal funding of $230,613 per project and $9,715 per unit. Erie accounts for 0.73% of Pennsylvania's total LIHTC funding, indicating a modest share of the state's affordable housing resources.
The city's LIHTC-funded affordable housing projects span from 1988 to 2016. The initial projects, including "746 E 22Nd St" and "Pennsylvanian," were completed in 1988. The most recent project, "Freedom Square Apartments," was finished in 2016. This 28-year period demonstrates a sustained commitment to affordable housing development in Erie.
The 1990s witnessed the highest number of affordable housing project completions, with developments such as "Palace Building Apts" (1995), "Rosedale Meadows" (1996), and "Villa Maria" (1998). The unit mix is diverse, including 25 efficiencies, 162 one-bedroom units, 46 two-bedroom units, 46 three-bedroom units, and 37 four-bedroom units, accommodating various household sizes and needs.
The "Freedom Square Apartments" project, completed in 2016, specifically targets veterans, addressing the unique housing needs of this population.
Erie's population has consistently decreased from 101,821 in 2010 to 93,517 in 2022. Despite this decline, the median income has shown an overall upward trend, increasing from $32,508 in 2013 to $43,839 in 2022. This income growth may indicate changing economic conditions in the city.
Racial demographics have remained relatively stable, with a slight decrease in the white population (from 72% in 2013 to 66% in 2022) and small increases in minority populations. The Hispanic population, for instance, grew from 7% in 2013 to 9% in 2022.
The most recent LIHTC project in 2016 coincides with a period of continued population decline and rising median income. This may suggest a shift in the type of affordable housing needed, possibly focusing on specific populations like veterans rather than broad-based low-income housing.
Erie's LIHTC-funded affordable housing inventory, while modest compared to the overall housing stock, represents a long-term commitment to providing affordable options. The city has utilized federal funding to create a diverse range of units over nearly three decades. Despite population decline, rising median incomes and changing demographics suggest evolving housing needs. The focus on specific populations, such as veterans in recent projects, may indicate a targeted approach to addressing these changing needs in Erie's affordable housing landscape.