Loading Content...
Stewartstown: LIHTC Program's Impact on Affordable Housing
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Stewartstown, located in Pennsylvania, has a population of 1,984 as of 2022. The city has one Low-Income Housing Tax Credit (LIHTC) funded project, providing a total of 96 affordable housing units. Based on the estimated housing inventory of 760 units, the LIHTC-funded affordable housing covers approximately 12.6% of the city's housing stock.
Stewartstown has received $5,594,162 in LIHTC funding for affordable housing. With one project funded, this translates to an average federal funding of $5,594,162 per project. The average federal funding per unit is $58,272. Stewartstown holds 0.94% of the total state LIHTC funding, which is significant for a small borough.
The sole LIHTC project in Stewartstown is Hopewell Courtyard, completed in 2010. This project has been providing affordable housing in the city for over a decade. The 96-unit development consists of 71 one-bedroom units and 25 two-bedroom units, catering to various household sizes within the low-income population.
Over the past decade, Stewartstown's population has fluctuated, showing a general declining trend from 2,191 in 2010 to 1,984 in 2022. Despite this population decrease, the median income has risen from $85,478 in 2013 to $89,619 in 2022, with a peak of $104,089 in 2021.
The racial composition of Stewartstown has become more diverse over the years. The white population remains predominant, but it has decreased from 96% in 2019 to 85% in 2022. There has been an increase in the Black population from 0% to 6%, and the Hispanic population from 2% to 5% during this period. This increasing diversity may indicate a growing need for affordable housing options to accommodate various demographic groups.
Stewartstown's LIHTC-funded affordable housing project, Hopewell Courtyard, provides a significant contribution to the city's housing inventory, covering about 12.6% of the estimated housing stock. The single project received substantial federal funding, averaging $58,272 per unit. Despite a declining population, the city has experienced rising median incomes and increasing racial diversity over the past decade. These demographic shifts may influence future affordable housing needs in Stewartstown.
