Washington Square, a historic neighborhood in Philadelphia, Pennsylvania, contains 217 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units, of which 190 are designated as low-income. This represents approximately 3.7% of the estimated 5,818 housing units in the neighborhood. The LIHTC program has invested $2,131,456 in tax credits for affordable housing projects in Washington Square, averaging $9,822 per unit in federal funding. LIHTC-funded affordable housing development in the area spans over two decades, from 1990 to 2013.

The 2000s and 2010s were particularly active for affordable housing development in Washington Square. Notable projects include Washington Square West (2007) and William Way Senior Residences (2013). The LIHTC-funded housing stock in the neighborhood comprises various unit types, with one-bedroom units being the majority (161), followed by two-bedroom units (43), efficiencies (8), three-bedroom units (4), and one four-bedroom unit.

Washington Square has experienced significant demographic changes over the past decade. The population increased from 12,316 in 2014 to 15,184 in 2022, representing a 23% growth. The median income rose from $60,319 in 2014 to $75,154 in 2022, indicating improved economic conditions for residents. The racial composition has also shifted, with the white population decreasing from 75% in 2014 to 65% in 2022, while racial diversity increased. The Black population grew from 6% to 12%, and those identifying as two or more races increased from 1% to 6%. The Asian population remained relatively stable at around 12-13%.