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Oxford: LIHTC-Funded Affordable Housing in a Growing, Diversifying 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
Oxford, Pennsylvania, a small city with a population of 5,724 residents as of 2022, has a history dating back to the 18th century. The Low-Income Housing Tax Credit (LIHTC) program has contributed significantly to the city's affordable housing options. Currently, Oxford has 136 total units in LIHTC-funded projects, with 89 designated as low-income units. These units represent approximately 6.2% of the city's estimated housing inventory of 2,193 units.
The LIHTC program has provided $1,101,407 in project tax credits to Oxford. This funding is distributed across three projects, resulting in an average of $367,136 per project and $8,099 per unit. Oxford's LIHTC funding accounts for 0.18% of the total state funding for such projects in Pennsylvania.
The implementation of LIHTC projects in Oxford spans over two decades. The first project, Oxford Place, was completed in 1994, while the most recent, Whitehall Acres, was finished in 2015. The 1990s saw the completion of two projects, Oxford Place and Oxford Village. The LIHTC-funded projects in Oxford offer a mix of unit types, with 57 two-bedroom and 57 three-bedroom units, indicating a focus on accommodating families and larger households.
Oxford has experienced steady population growth over the past decade, increasing from 5,085 in 2013 to 5,724 in 2022. The median income has also risen, from $48,436 in 2013 to $56,536 in 2022. This growth in population and income suggests a continuing need for affordable housing options.
The racial composition of Oxford has changed notably in recent years. The Hispanic population has increased from 35% in 2019 to 38% in 2022, while the white population has decreased from 56% in 2019 to 53% in 2022. These demographic shifts may influence future affordable housing needs and considerations.
The LIHTC-funded affordable housing inventory in Oxford represents a small but significant portion of the city's housing stock. The three LIHTC projects completed between 1994 and 2015 have provided 136 units, with 89 designated for low-income residents. The city has received over $1 million in tax credits, demonstrating a commitment to affordable housing development. The focus on two- and three-bedroom units suggests an emphasis on family-friendly housing options. As Oxford continues to grow and diversify, ongoing assessment of affordable housing needs will be crucial to ensure that the housing inventory aligns with the changing demographics and economic conditions of the city.
