More than 9,700 subsidized units to lose affordability in five years
Affordability restrictions on more than 9,700 Pennsylvania housing units will expire over the next five years, according to the National Housing Preservation Database, which compiles information from more than a dozen federal housing programs.
In an effort to better monitor the supply of affordable housing, Pennsylvania will create a searchable database of properties required to offer discounted rents under state and federal subsidized-housing programs, included in the state budget deal that lawmakers passed in July.
The database will track two key pieces of information for each property: whether it is required to offer discounted rents, and when those affordability requirements expire. The database is intended to bring more transparency to an issue that could affect thousands of Pennsylvanians.
Subsidized-housing programs typically require property owners to keep at least some of their units affordable for a defined period that can last decades. When the affordability periods lapse, property owners can decide to raise rents to reflect market rates, or sell the building. Either outcome could potentially force residents to move.