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Affordable Housing in Ludlow: LIHTC Projects and Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Ludlow, a neighborhood in Philadelphia, Pennsylvania, contains a notable amount of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory comprises 59 total affordable units, all categorized as low-income units. Based on the 2022 population of 2,242 and the estimated 859 housing units, LIHTC funded affordable housing represents approximately 6.9% of the neighborhood's estimated housing inventory.
The LIHTC projects in Ludlow have received a total of $721,489 in tax credits, averaging about $12,228 per unit. This investment demonstrates a commitment to providing affordable housing options in the area. Affordable housing has been present in Ludlow for over three decades, with the first LIHTC project, "1221 N Franklin St," completed in 1989. The most recent addition, "1315 North 8Th St," was completed in 2019, indicating ongoing efforts to expand affordable housing opportunities. The 1990s saw the most activity in LIHTC development, with projects like "Villas Dehace" completed in 1992.
The neighborhood's LIHTC inventory includes a mix of unit types, with 33 one-bedroom units, 13 two-bedroom units, and 13 three-bedroom units. This range of unit sizes can accommodate various household compositions, from individuals to families. One notable project, "1315 North 8Th St," completed in 2019, specifically targets young adults. This focus suggests an effort to address the affordable housing needs of a demographic that may be entering the workforce or pursuing higher education.
Over the past decade, Ludlow has experienced significant demographic shifts. The population has grown from 1,660 in 2014 to 2,242 in 2022, a 35% increase. This population growth may have contributed to the need for additional affordable housing, as evidenced by the 2019 LIHTC project. Median income in the neighborhood has fluctuated, ranging from a low of $16,726 in 2017 to a high of $30,067 in 2020. The most recent data shows a median income of $29,286 in 2022, suggesting a potential increase in economic opportunity but also a continued need for affordable housing options.
Racial demographics have also shifted. The Black population decreased from 72% in 2020 to 61% in 2022, while the White population increased from 9% to 16% during the same period. The Hispanic population decreased from 14% to 13%, and the Asian population increased from 3% to 6%. These changes in racial composition may reflect broader neighborhood changes and could influence future affordable housing needs.
Ludlow's LIHTC funded affordable housing inventory represents a significant portion of the neighborhood's estimated housing stock, providing 59 low-income units. The neighborhood has seen consistent investment in affordable housing over three decades, with the most recent project targeting young adults. While the LIHTC projects cover about 6.9% of the estimated housing inventory, demographic trends such as population growth and fluctuating median income suggest an ongoing need for affordable housing options. The changing racial composition of the neighborhood may also influence future affordable housing strategies and needs.
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