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Affordable Housing Analysis in Philadelphia's 19148 Zip Code: LIHTC Funded Units and Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 19148 in Philadelphia, located in the southern part of the city, contains Low-Income Housing Tax Credit (LIHTC) funded affordable housing. This area has 10 total affordable units, all of which are designated as low-income units. LIHTC funded affordable housing comprises approximately 0.05% of the total housing stock, based on an estimated housing inventory of 19,260 units in the zip code.
The LIHTC program has invested $10,035 in tax credits for affordable housing projects in zip code 19148. This equates to an average federal funding of $1,003.50 per unit. LIHTC funded affordable housing development in this zip code spans nearly a decade, with the first project completed in 1988 and the most recent in 1997. The 1990s saw the most affordable housing activity, with five projects completed during this decade, including "830 Cantrell St Project" and "345 Emily St Project."
The affordable housing inventory in zip code 19148 consists primarily of larger units, with 4 two-bedroom units and 5 three-bedroom units. This distribution indicates a focus on accommodating families or larger households.
Zip code 19148 has experienced demographic shifts over the past decade. The population peaked in 2016 at 54,267 and has since declined to 50,269 in 2022. Median income has shown significant growth, increasing from $49,219 in 2013 to $61,179 in 2022, with a notable spike to $70,882 in 2021.
Racial demographics in zip code 19148 have also evolved. The Asian population has remained relatively stable at around 20-23% of the total population. The Hispanic population has shown the most significant increase, growing from 9% in 2013 to 19% in 2022. The white population has seen a slight decrease from 60% in 2013 to 54% in 2022. The Black population has remained relatively constant at 4-6% throughout this period.
No new LIHTC projects have been recorded in zip code 19148 since 1997. This could be due to various factors, including changes in local housing policies, shifts in funding priorities, or the implementation of other affordable housing programs to address low-income housing needs.
Zip code 19148 in Philadelphia has a small but established LIHTC funded affordable housing inventory, primarily developed in the late 1980s and 1990s. While these units represent a small fraction of the estimated housing stock, they provide valuable low-income housing options. The area has experienced demographic changes in recent years, including population fluctuations, income growth, and shifts in racial composition, particularly with the growth of the Hispanic population. These changes may influence future affordable housing needs and strategies in this zip code.
