Loading Content...
Watsontown's 1988 LIHTC Initiative: A Cornerstone of Affordable Housing
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Watsontown in Pennsylvania has a distinct affordable housing landscape supported by the Low-Income Housing Tax Credit (LIHTC) program. The city has 24 affordable housing units, all designated as low-income units. These LIHTC-funded units account for approximately 3.5% of the city's estimated 687 housing units.
Watsontown has received $45,357 in project tax credits through the LIHTC program. With three projects, this amounts to an average of $15,119 per project. The average federal funding per unit is $1,890. The city holds 0.01% of the total state LIHTC funding, indicating a relatively small portion of Pennsylvania's affordable housing investment.
All three LIHTC projects in Watsontown were completed in 1988, marking the inception of affordable housing initiatives in the city. These projects are Liberty Terrace, Liberty Terraces B, and Liberty Terraces C, each contributing 8 units to the affordable housing inventory. The 1980s were the decade with the most affordable housing projects completed in the city.
The affordable housing units in Watsontown consist entirely of one-bedroom apartments, with 24 units spread across the three projects. This suggests a focus on accommodating smaller households or individuals in need of affordable housing.
Over the past decade, Watsontown has experienced fluctuations in its population, with a general downward trend from 2,534 in 2010 to 1,792 in 2022. The median income has shown variability, rising from $44,016 in 2013 to $46,059 in 2022, with a peak of $67,135 in 2021.
The racial composition of Watsontown has remained predominantly white, with a slight decrease from 96% in 2013 to 92% in 2022. There has been a small increase in Hispanic population, from 3% in 2013 to 5% in 2022. The city has also seen minimal growth in Asian, Pacific Islander, and multiracial populations.
Despite these demographic changes, no new LIHTC projects have been developed in the last decade. This could be due to various factors, including changes in housing needs, funding priorities, or local development policies.
Watsontown's affordable housing inventory, supported by the LIHTC program, consists of 24 one-bedroom units across three projects, all completed in 1988. These units represent about 3.5% of the estimated housing stock. While the city has experienced some demographic changes over the past decade, including a decrease in population and slight increases in racial diversity, there have been no new LIHTC developments during this period. The existing affordable housing continues to play a role in meeting the needs of low-income residents in Watsontown.
