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Pottstown's LIHTC Program: Affordable Housing in a Changing 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
Pottstown, located in Pennsylvania, has a total of 101 affordable housing units, with 92 designated as low-income units, supported by the Low-Income Housing Tax Credit (LIHTC) program. Based on the 2022 population of 23,356 and an estimated 8,949 housing units, LIHTC-funded affordable housing covers approximately 1.13% of the city's estimated housing inventory.
Pottstown has received $1,588,099 in project tax credits through the LIHTC program. With approximately 4 projects, this translates to an average of $397,025 in federal funding per project. When divided by the total number of units, it amounts to about $15,723 in federal funding per unit. The city holds 0.27% of Pennsylvania's total LIHTC funding, indicating a modest share of the state's affordable housing resources.
The LIHTC program has been supporting affordable housing in Pottstown since 1990, with the most recent project completed in 2017. This 27-year span demonstrates a long-term commitment to affordable housing in the city. The 1990s saw the most activity, with two projects completed during that decade: "311 N Franklin St" in 1990 and "Steps - King Street" in 1993.
The affordable housing inventory in Pottstown consists primarily of one-bedroom units (84), followed by two-bedroom (9) and three-bedroom (8) units. This distribution suggests a focus on housing for smaller households or individuals.
One notable project is the "Beech Street Factory," completed in 2017, which targets the Arts Community. This specialized housing may provide unique amenities or spaces tailored to support artists and creative professionals, contributing to the city's cultural landscape.
Over the past decade, Pottstown's population has shown a gradual increase, growing from 22,580 in 2015 to 23,356 in 2022. The median income has fluctuated, rising from $46,190 in 2015 to $49,231 in 2022, with some variations in between. This modest income growth may indicate an ongoing need for affordable housing options.
The racial composition of Pottstown has shifted slightly, with the white population decreasing from 69% in 2015 to 60% in 2022, while the Black population increased from 17% to 21%, and the Hispanic population grew from 8% to 11% during the same period. This increasing diversity may influence future affordable housing needs and considerations.
Pottstown's LIHTC-funded affordable housing represents a small but significant portion of its housing inventory. The city has maintained a consistent commitment to affordable housing development over nearly three decades, with a focus on smaller units. The recent project targeting the Arts Community demonstrates an effort to address specific population needs. While the LIHTC program has made contributions to Pottstown's affordable housing stock, the modest coverage suggests there may be opportunities for further expansion to meet the needs of the city's evolving demographics and income levels.
