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Affordable Housing in Germantown East: A Modest LIHTC Inventory Amid Demographic Stability
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Germantown East, a neighborhood in Philadelphia, Pennsylvania, has a limited Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The area contains 9 total affordable units, all designated as low-income units. Based on the 2022 population of 10,645 and using the national average household size of 2.61, the estimated housing units in the neighborhood are approximately 4,079. The LIHTC funded affordable housing accounts for about 0.22% of the estimated housing inventory in Germantown East.
The LIHTC projects in Germantown East have received $296,984 in project tax credits, averaging approximately $32,998 in federal funding per unit. The neighborhood has demonstrated a long-term commitment to affordable housing, with the first LIHTC project completed in 1988 and the most recent in 1997. This indicates nearly a decade of affordable housing development in the area.
The 1980s saw the most affordable housing projects completed, with four projects finished between 1988 and 1989. These include projects at 5305 Magnolia St, 1344 E Rittenhouse St, Church Lane, and 1382 Narragansett St. The 1990s saw two additional projects completed, with the last one at 936 E Price St in 1997. Regarding unit types, the neighborhood's LIHTC inventory includes 4 two-bedroom units and 4 three-bedroom units, suggesting a focus on accommodating families or larger households.
Over the past decade, Germantown East has experienced some demographic shifts. The population has slightly decreased from 11,867 in 2015 to 10,645 in 2022. Median income has shown an overall increase, rising from $26,076 in 2015 to $31,432 in 2022, which might indicate improving economic conditions for some residents.
The racial composition of the neighborhood has remained relatively stable, with a predominant Black population. In 2022, approximately 90% of residents identified as Black, 5% as White, and 2% as Hispanic. The consistency in racial demographics suggests that the neighborhood has maintained its cultural character over the years.
No new LIHTC projects have been recorded in the last decade. This could be due to various factors, including changes in funding priorities, local development patterns, or potentially reduced need for additional affordable housing units in this specific area.
Germantown East's LIHTC funded affordable housing inventory, while modest in size, represents a long-standing commitment to providing low-income housing options. The neighborhood's 9 affordable units, all designated as low-income, cover a small fraction of the estimated housing stock. The area saw most of its LIHTC development in the late 1980s and early 1990s, with no new projects recorded in recent years. Despite this, the neighborhood has experienced some positive economic trends, with a gradually increasing median income over the past decade. The stable racial demographics suggest a consistent community fabric, which may influence future affordable housing needs and development strategies in Germantown East.
