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Affordable Housing in Philadelphia, Mississippi: A Two-Decade LIHTC Journey
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Philadelphia, Mississippi, a city with historical significance, has implemented affordable housing through the Low-Income Housing Tax Credit (LIHTC) program. The city contains 210 affordable housing units, of which 181 are designated as low-income. These LIHTC-funded units represent approximately 4.7% of the city's estimated 4,489 housing units.
Philadelphia has received $1,656,170 in project tax credits for affordable housing via the LIHTC program. This funding has supported approximately 5 projects, resulting in an average of $331,234 in federal funding per project and $7,886 per unit. The city's allocation accounts for 0.61% of Mississippi's total LIHTC funding, a notable amount for a city of its size.
The development of LIHTC-funded affordable housing in Philadelphia spans from 1994 to 2013. The earliest project, Silverhill Apts, was completed in 1994, while the most recent, Philadelphia Apts, was finished in 2013. The 2000s saw significant activity, with three projects (Reunion Court Apts, Wells Place I, and Wells Place II) completed in 2007 alone.
The affordable housing inventory in Philadelphia offers diverse unit types. Of the 210 total units, 38 are one-bedroom, 78 are two-bedroom, 64 are three-bedroom, and 30 are four-bedroom units. This distribution accommodates various household sizes and needs within the community.
Philadelphia's population has decreased slightly from 12,464 in 2017 to 11,717 in 2022. Despite this decline, the median income has increased marginally from $41,324 in 2017 to $41,376 in 2022. This small rise in median income may influence the demand for affordable housing.
The racial composition of Philadelphia has remained relatively stable. The Black population increased slightly from 35% in 2017 to 37% in 2022, while the White population grew from 57% to 60% during the same period. This demographic stability suggests a consistent need for diverse housing options.
Philadelphia, Mississippi, has made significant progress in providing affordable housing through the LIHTC program, with 210 units contributing to the city's housing inventory. The city's allocation of 0.61% of the state's LIHTC funding emphasizes its commitment to affordable housing. The development of these projects over nearly two decades, particularly the concentration in the 2000s, reflects a sustained effort to address housing needs. The modest demographic shifts and slight increase in median income indicate an ongoing need for affordable housing options to serve Philadelphia's diverse community.
