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Affordable Housing in West Powelton: LIHTC Impact and 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
West Powelton, a neighborhood in Philadelphia, Pennsylvania, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area has 258 total units in LIHTC-funded projects, with 204 designated as low-income units. Based on the 2022 population of 4,576 and using the national average household size, the estimated housing inventory is approximately 1,753 units. The LIHTC-funded affordable housing covers about 14.7% of the neighborhood's estimated housing stock, which is close to the target percentage for a well-balanced community.
The LIHTC program has invested significantly in West Powelton, with project tax credits totaling $2,703,287. This translates to an average federal funding of about $10,477 per unit in LIHTC-funded projects. The neighborhood has a long history of affordable housing development, with the earliest recorded LIHTC project, Powelton Gardens, completed in 1989. The most recent project, WPRE IV, was completed in 2017, indicating nearly three decades of affordable housing presence in the area.
The 1990s saw the most affordable housing activity, with six projects completed during this decade. Notable projects from this period include Peoples Emergency Ctr (1990), Girard Affordable Housing (1995), and Rowan House (1997). West Powelton's LIHTC-funded housing inventory is diverse, offering a range of unit sizes to accommodate different household needs. The breakdown includes 26 efficiencies, 90 one-bedroom units, 45 two-bedroom units, 54 three-bedroom units, and 7 four-bedroom units. This distribution suggests a focus on accommodating both individuals and families of various sizes.
Over the past decade, West Powelton has experienced demographic shifts. The population has remained relatively stable, with a slight decrease from 4,860 in 2015 to 4,576 in 2022. However, median income has shown a significant increase, rising from $17,391 in 2015 to $27,472 in 2022, which could indicate improving economic conditions for residents.
Racial demographics have also shifted. The Black population has decreased from 69% in 2015 to 52% in 2022, while the Asian population has increased from 12% to 18%, and the White population has grown slightly from 15% to 19%. This change in racial composition suggests a diversifying neighborhood.
The most recent LIHTC project was completed in 2017, coinciding with a period of population growth and the beginning of the upward trend in median income. The lack of new LIHTC projects since then may be related to the rising median income and changing demographics, potentially reducing the immediate need for additional low-income housing.
West Powelton's LIHTC-funded affordable housing inventory represents a significant portion of the neighborhood's estimated housing stock, approaching the target percentage for a well-balanced community. The area has benefited from nearly three decades of LIHTC investment, with a diverse range of unit types available. Recent years have seen demographic shifts, including rising median income and changes in racial composition, which may influence future affordable housing needs in the neighborhood. The existing LIHTC projects continue to play a crucial role in providing affordable housing options for West Powelton residents.
