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Affordable Housing in North Central Philadelphia: Three Decades of LIHTC Development Amidst Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
North Central, a neighborhood in Philadelphia, Pennsylvania, contains a significant amount of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory comprises 709 total units, with 616 designated as low-income units. Based on the 2022 population of 17,442 and an estimated 6,683 housing units, LIHTC funded affordable housing accounts for approximately 10.6% of the neighborhood's estimated housing inventory.
The LIHTC program has made substantial investments in North Central, with project tax credits totaling $8,348,184. This equates to an average federal funding of about $11,775 per unit in LIHTC funded projects. The neighborhood has a prolonged history of affordable housing development, with the earliest LIHTC projects, National Temple and National Temple I, completed in 1987. The most recent project, Strawberry Mansion Apartments, was completed in 2018, indicating over three decades of affordable housing presence in North Central.
The 1990s witnessed a significant increase in affordable housing development, with multiple projects completed during this decade, including Cecil B Moore Village in 1998. The housing stock is diverse, consisting of 43 efficiencies, 67 one-bedroom units, 190 two-bedroom units, 279 three-bedroom units, and 67 four-bedroom units, accommodating various household sizes and needs.
Over the past decade, North Central has experienced notable demographic changes. The population has grown from 14,701 in 2017 to 17,442 in 2022, an 18.6% increase. Simultaneously, the median income has risen substantially from $14,763 in 2017 to $31,433 in 2022, more than doubling in five years. This rapid income growth may indicate a changing economic landscape in the neighborhood.
Racial demographics have also shifted. The Black population decreased from 68% in 2017 to 56% in 2022, while the Hispanic population increased from 4% to 8%, and the Asian population grew from 5% to 7% during the same period. The White population also increased from 20% to 26%.
Despite these demographic changes, the completion of projects such as Blumberg Apartments Phase 1 and Strawberry Mansion Apartments in 2016 and 2018 respectively, indicates an ongoing commitment to affordable housing in the area.
North Central's LIHTC funded affordable housing inventory represents a significant portion of its housing stock, covering about 10.6% of estimated units. With over 30 years of LIHTC project development, the neighborhood has a diverse range of affordable housing options. The area has experienced notable demographic changes in recent years, including population growth, substantial median income increases, and shifts in racial composition. Despite these changes, continued LIHTC project completions suggest an ongoing effort to maintain affordable housing options in this evolving neighborhood.
