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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Cramer Hill, a neighborhood in Camden, New Jersey, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory consists of 154 total units, with 81 designated as low-income units. Based on the 2022 population of 3,879 and using the national average household size of 2.61, there are approximately 1,486 housing units in the neighborhood. LIHTC funded affordable housing covers about 10.4% of the estimated housing inventory.
The LIHTC projects in Cramer Hill have received $3,157,710 in tax credits. With 154 total units in LIHTC funded projects, this translates to an average federal funding of approximately $20,505 per unit. All three LIHTC projects in the neighborhood were completed in 2007, indicating a concentrated effort to develop affordable housing during that year. These projects are "River Road Affordable," "River Road Affordable (Site E) #05916," and "River Road Affordable Housing (Site E)."
The housing mix in these LIHTC projects includes 4 one-bedroom units, 41 two-bedroom units, and 32 three-bedroom units. This distribution suggests a focus on accommodating families of various sizes within the affordable housing inventory.
Over the past decade, Cramer Hill's population has fluctuated, with a general downward trend from 4,968 in 2013 to 3,879 in 2022. During this period, the median income has shown an overall increase, rising from $19,039 in 2013 to $28,071 in 2022, despite some fluctuations.
The racial composition of the neighborhood has shifted significantly. The Hispanic population has grown from 68% in 2013 to 80% in 2022, while the Black population decreased from 26% to 18% during the same period. The White population also decreased from 5% to 0% over this timeframe.
These demographic changes, particularly the increase in median income and the shift in racial composition, may have influenced the affordable housing needs in the neighborhood since the LIHTC projects were completed in 2007.
Cramer Hill's LIHTC funded affordable housing inventory, completed in 2007, provides a significant contribution to the neighborhood's housing stock, covering about 10.4% of the estimated housing units. The projects received substantial federal funding, averaging $20,505 per unit. The housing mix caters to various family sizes, with a focus on two and three-bedroom units. While no new LIHTC projects have been developed in the last decade, the neighborhood has experienced demographic shifts, including an increase in median income and a growing Hispanic population. These changes may have implications for future affordable housing needs in Cramer Hill.