Over the last decade, Philadelphia has experienced some fluctuations in its population and demographic makeup. The population has generally decreased from 1,930 in 2013 to 1,597 in 2022. Median income has also fluctuated, with a notable increase from $40,051 in 2019 to $52,778 in 2022.

Racial demographics have remained relatively stable, with the white population consistently comprising the majority (around 83-89%) throughout the past decade. There has been a slight increase in diversity, with small increases in the Black population (from 3% to 5%) and those identifying as two or more races (from 2% to 7%) between 2013 and 2022.

The stable racial composition and recent increase in median income might suggest a relatively consistent need for affordable housing in the community. However, the declining population could indicate a reduced demand for new affordable housing projects in recent years.

Philadelphia's LIHTC-funded affordable housing inventory, while modest, provides important low-income housing options for the community. The existing projects, particularly the Philadelphia Apts, offer a range of unit sizes to accommodate various household needs. While the city's population has declined slightly over the past decade, the recent increase in median income and subtle shifts in racial demographics highlight the ongoing importance of maintaining affordable housing options in the community. The LIHTC program continues to play a crucial role in supporting affordable housing in Philadelphia, contributing to the city's efforts to meet the housing needs of its low-income residents.