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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 19128 in Philadelphia, Pennsylvania, contains 42 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. These units represent approximately 0.3% of the estimated 14,192 housing units in the area, based on the 2022 population of 37,042 and the national average household size. The LIHTC program has invested $581,607 in tax credits for affordable housing projects in this zip code, averaging $13,848 per unit. This investment accounts for 0.1% of the total LIHTC funding allocated to Pennsylvania.
Affordable housing has been present in zip code 19128 since at least 2009. The most recent project was completed in 2014. The 2010s saw the most LIHTC activity, with two projects completed: Pensdale II in 2009 and Fairthorne Senior Housing in 2014. The affordable housing inventory primarily consists of one-bedroom units (39) and a small number of two-bedroom units (3), suggesting a focus on housing for smaller households or individuals.
Over the past decade, zip code 19128 has experienced significant population growth and economic improvement. The population increased from 31,485 in 2010 to 37,042 in 2022. Concurrently, the median income rose from $70,885 in 2013 to $83,020 in 2022. Racial demographics have also shifted, with the white population decreasing from 85% in 2013 to 74% in 2022, while the Black population increased from 7% to 12%, and the Hispanic population grew from 3% to 7% during the same period.
The completion of LIHTC projects in 2009 and 2014 aligns with the period of population growth and increasing diversity in zip code 19128. However, no new LIHTC projects have been developed since 2014, despite continued population growth and rising median incomes. This lack of recent development may indicate a need for reassessment of affordable housing requirements in the area.
Zip code 19128 has a small but present LIHTC-funded affordable housing inventory, representing 0.3% of the estimated housing stock. The area has experienced significant population growth, income increases, and increasing racial diversity over the past decade. While LIHTC projects were developed in the early 2010s, no new projects have been completed since 2014. This analysis highlights the need for ongoing evaluation of affordable housing needs in this growing and changing community.