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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Bustleton, a neighborhood in Philadelphia, Pennsylvania, has a population of 37,162 as of 2022. The neighborhood's Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory consists of one project, Robert Saligman House, providing 180 units, with 18 designated as low-income units. Based on the estimated 14,238 housing units in the neighborhood, the LIHTC funded affordable housing covers 1.26% of the neighborhood's housing stock.
The LIHTC program has invested $799,598 in tax credits for affordable housing in Bustleton. This equates to an average federal funding of $4,442 per unit in the LIHTC funded project. Robert Saligman House, completed in 2015, is the sole LIHTC funded project in the neighborhood. This project has been providing affordable housing options for nearly a decade.
The Robert Saligman House offers a mix of unit types, including 81 efficiencies and 99 one-bedroom units. This distribution indicates a focus on housing for individuals or small households, potentially catering to seniors or young professionals.
Over the past decade, Bustleton has experienced demographic shifts. The population has grown from 34,592 in 2015 to 37,162 in 2022, indicating an increase in housing demand. Median income has remained relatively stable, fluctuating between $67,316 and $78,568 during this period.
Racial demographics have shown changes. The white population has decreased from 72% in 2015 to 61% in 2022, while the Asian population has increased from 14% to 19%. The Black and Hispanic populations have also seen slight increases, rising to 9% and 8% respectively by 2022. These shifts suggest growing diversity in the neighborhood, which may influence future affordable housing needs.
Bustleton's LIHTC funded affordable housing inventory is limited to one project, Robert Saligman House, which provides 180 units, including 18 low-income units. This represents a small portion of the neighborhood's estimated housing stock. The project, completed in 2015, offers primarily efficiency and one-bedroom units. While the neighborhood has experienced population growth and increasing diversity over the past decade, the LIHTC funded affordable housing inventory has remained constant. The demographic shifts and steady median income levels may indicate evolving housing needs in the area.