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Affordable Housing in Germantown Southwest: A Single LIHTC Project's Enduring Impact
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 Southwest, a neighborhood in Philadelphia, Pennsylvania, has a small Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The neighborhood contains 2 affordable units, all of which are designated as low-income units. Based on the 2022 population of 9,970 and an estimated 3,820 housing units, the LIHTC funded affordable housing comprises approximately 0.05% of the neighborhood's estimated housing inventory.
The LIHTC program has provided $609 in tax credits for affordable housing projects in Germantown Southwest. With 2 total units funded, this averages to $304.50 in federal funding per unit. The neighborhood's LIHTC funded affordable housing history dates back to 1989, with the completion of the Boccelli-10 Houses project. This project represents the entirety of LIHTC funded affordable housing in the area, indicating a limited but long-standing presence of such housing in the neighborhood.
All 2 LIHTC funded units in Germantown Southwest are three-bedroom units, suggesting a focus on accommodating families or larger households. The Boccelli-10 Houses project does not have a specified target population, indicating it may serve a general low-income demographic.
Over the past decade, Germantown Southwest has experienced demographic shifts. The population has fluctuated, with a low of 7,343 in 2016 and a high of 10,382 in 2021, before settling at 9,970 in 2022. Median income has shown an overall increasing trend, rising from $32,012 in 2017 to $37,307 in 2022, with a peak of $43,801 in 2021.
Racially, the neighborhood has remained predominantly Black, with the percentage ranging from 80% to 85% over the past decade. There has been a slight increase in diversity, with small increases in Hispanic, Asian, and multi-racial populations.
The lack of new LIHTC projects in the last decade, despite population growth and income fluctuations, may suggest that other affordable housing programs are meeting the neighborhood's needs, or that there are barriers to developing new LIHTC projects in the area.
Germantown Southwest has a small LIHTC funded affordable housing inventory, consisting of 2 three-bedroom units from a single project completed in 1989. This represents a very small percentage of the neighborhood's estimated housing stock. The neighborhood has experienced population growth and income fluctuations over the past decade, along with slight increases in racial diversity, but these changes have not corresponded with new LIHTC developments. This analysis provides a snapshot of LIHTC's role in Germantown Southwest's affordable housing landscape, but a comprehensive understanding would require information on other housing assistance programs in the area.
