Loading Content...
Affordable Housing in Mount Airy West: LIHTC Projects and Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Mount Airy West, a neighborhood in Philadelphia, Pennsylvania, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory consists of 225 total units, all of which are designated as low-income units. Based on the 2022 population of 12,838 and using the national average household size, the estimated housing inventory for Mount Airy West is approximately 4,919 units. The LIHTC funded affordable housing covers about 4.57% of the estimated housing inventory in the neighborhood.
The LIHTC projects in Mount Airy West have received $3,148,990 in tax credits, averaging $13,995 per unit in federal funding. The neighborhood has seen LIHTC projects completed over a span of nearly two decades, with the first project, Germantown Avenue Apts, built in 1994, and the most recent, Nugent Senior Apartments, completed in 2013. The 2010s saw the most activity in affordable housing development, with three projects completed during this decade: New Courtland Apt @ Cliveden, Presser Senior Apts (both in 2011), and Nugent Senior Apartments (2013).
The LIHTC funded housing in Mount Airy West primarily consists of one-bedroom units, with 160 out of the 225 total units falling into this category. There are also 10 efficiencies, 9 two-bedroom units, and 1 three-bedroom unit. This distribution suggests a focus on housing for smaller households or individuals.
Over the past decade, Mount Airy West has experienced some demographic shifts. The population has remained relatively stable, with a slight increase from 12,127 in 2010 to 12,838 in 2022. However, the median income has seen a significant rise, from $75,386 in 2013 to $96,976 in 2022, indicating a trend towards higher-income residents.
The racial demographics have also shifted slightly. The Black population decreased from 44% in 2013 to 41% in 2022, while the White population increased from 45% to 48% over the same period. The Hispanic population remained relatively stable, increasing slightly from 3% to 4%.
The completion of three LIHTC projects in the early 2010s coincided with a period of relative stability in the neighborhood's demographics. However, the lack of new LIHTC projects since 2013 may be related to the rising median income in the area, potentially reducing the perceived need for additional low-income housing.
Mount Airy West's LIHTC funded affordable housing inventory represents a small but significant portion of the neighborhood's estimated housing stock. The LIHTC projects, primarily consisting of one-bedroom units, were developed over nearly two decades, with the most recent activity occurring in the early 2010s. While the neighborhood has seen rising median incomes and slight shifts in racial demographics over the past decade, the existing LIHTC housing continues to provide important affordable options for low-income residents. The analysis suggests a complex interplay between affordable housing development and demographic trends in Mount Airy West.
