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Meadville's LIHTC Affordable Housing: A Modest Contribution in a Historic Pennsylvania City
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Meadville, Pennsylvania, a city established in 1788, has implemented a Low-Income Housing Tax Credit (LIHTC) program to address affordable housing needs. The program has resulted in the development of 108 low-income housing units, which constitute approximately 2% of the city's estimated 5,395 housing units, based on the 2022 population and national average household size.
Meadville has received $598,924 in LIHTC funding for affordable housing projects. This funding has been distributed across three projects, averaging $199,641 per project and $5,545 per unit. The city's LIHTC funding represents 0.1% of Pennsylvania's total, indicating a small but notable contribution to the state's affordable housing initiatives.
The LIHTC program in Meadville has been operational since 1993, with the most recent project completed in 2007, spanning a 14-year period of affordable housing development. The 1990s saw the highest activity, with two projects completed: Shyrock Senior Citizens in 1993 and Snodgrass Building in 1996. The most recent project, Parkside Commons, was finalized in 2007.
Meadville's affordable housing inventory comprises various unit types. There is 1 efficiency unit, 58 one-bedroom units, and 13 two-bedroom units. Parkside Commons is the largest project, offering 56 units, followed by Shyrock Senior Citizens with 41 units, and Snodgrass Building with 11 units.
Meadville's population has experienced a slight decline over the past decade, decreasing from 14,668 in 2014 to 14,082 in 2022. During this period, the median income increased from $49,759 in 2014 to $52,272 in 2022. The city's racial composition has remained relatively stable, with a predominant white population (88% in 2022) and minor increases in minority populations.
The demographic data suggests a potential ongoing need for affordable housing, despite the absence of new LIHTC projects in the last decade. The slight population decline and modest income growth may indicate economic challenges for some residents, potentially increasing the demand for affordable housing options.
Meadville's LIHTC-funded affordable housing inventory, while modest, plays a significant role in providing low-income housing options for its residents. The program has contributed to the development of 108 units across three projects over a 14-year period. The mix of unit types offers diverse options for low-income residents. As Meadville continues to evolve, monitoring demographic trends will be essential for addressing future affordable housing needs.
