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Affordable Housing in Haverford North: A Three-Decade Commitment
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Haverford North, a neighborhood in Philadelphia, Pennsylvania, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory comprises 222 total units, with 213 designated as low-income units. This affordable housing stock plays a crucial role in addressing the community's housing needs.
Based on the 2022 population of 1,783 and using the national average household size of 2.61, approximately 683 housing units are estimated in the neighborhood. The LIHTC-funded affordable housing units account for about 32.5% of this estimated housing inventory, indicating that LIHTC projects cover a substantial portion of the neighborhood's housing stock.
The LIHTC program has invested significantly in Haverford North, with project tax credits totaling $2,156,023. This translates to an average federal funding of approximately $9,712 per unit in LIHTC-funded projects.
Affordable housing has been a long-standing feature of Haverford North, with projects spanning from 1989 to 2016. The earliest project, "4217 Haverford Ave," was completed in 1989, while the most recent, "4050 Apartments," was finished in 2016. This 27-year span demonstrates a consistent commitment to affordable housing in the area.
The 2000s saw the most activity in affordable housing development, with three out of four projects completed during this decade. Notable projects from this period include "Mt Olivet" (2004) and "Powelton Heights" (2006).
The housing mix in LIHTC-funded projects primarily consists of one-bedroom units (200), with a smaller number of two-bedroom (8) and three-bedroom (5) units. This distribution suggests a focus on accommodating smaller households or individuals.
Over the past decade, Haverford North has experienced notable demographic shifts. The population has grown from 1,466 in 2013 to 1,783 in 2022, a 21.6% increase. Concurrently, median income has risen significantly, from $13,441 in 2013 to $25,669 in 2022, nearly doubling over this period.
Racial composition has remained relatively stable, with a slight decrease in the Black population from 88% in 2013 to 81% in 2022. There has been a small increase in diversity, with slight growth in Asian, Hispanic, and White populations.
The completion of the "4050 Apartments" project in 2016 aligns with a period of population growth and increasing median income, suggesting a response to changing housing needs in the neighborhood.
Haverford North demonstrates a strong commitment to affordable housing through its LIHTC-funded projects. These developments account for a significant portion of the neighborhood's estimated housing stock, potentially meeting or exceeding the typical target for affordable housing inventory. The consistent development of affordable housing over nearly three decades, coupled with recent population growth and income increases, suggests an ongoing effort to maintain affordable options in a changing neighborhood landscape. The predominance of one-bedroom units in the LIHTC inventory indicates a focus on smaller households, which may align with evolving demographic trends in the area.
