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Affordable Housing in Wynnefield: LIHTC's Impact on a Philadelphia Neighborhood
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Wynnefield, a neighborhood in Philadelphia, Pennsylvania, contains 278 units of Low-Income Housing Tax Credit (LIHTC) funded affordable housing, with 205 designated as low-income units. Based on the 2022 population of 15,971 and the national average household size of 2.61, the estimated housing inventory is 6,119 units. LIHTC-funded affordable housing represents approximately 4.5% of this estimated inventory.
The LIHTC program has invested $6,044,743 in tax credits in Wynnefield, averaging $21,744 per unit across all LIHTC-funded projects. Affordable housing has been present in Wynnefield for over two decades, with the earliest LIHTC project completed in 1995 and the most recent in 2017.
The 2010s experienced the most significant growth in LIHTC-funded affordable housing in Wynnefield. Notable projects from this period include Westminster Senior Apartments (2013), Wynnefield Place Senior Apts (2014), and Belmont Specialty Housing I and II (both in 2016). The LIHTC-funded housing inventory in Wynnefield comprises 18 efficiencies, 180 one-bedroom units, 42 two-bedroom units, 36 three-bedroom units, and 2 four-bedroom units, suggesting a focus on smaller households and potentially senior residents.
Wynnefield's population has remained relatively stable over the past decade, fluctuating between 15,000 and 16,000 residents. The median income has varied, ranging from $41,214 in 2016 to $49,016 in 2021. The completion of several LIHTC projects in the mid-2010s coincides with a period of lower median incomes, suggesting a timely response to increased affordable housing needs.
Wynnefield has maintained a predominantly Black population, consistently above 80% throughout the 2010s. This demographic stability may indicate a sustained need for affordable housing options in the community.
Wynnefield's LIHTC-funded affordable housing inventory represents a significant investment, with over $6 million in tax credits allocated. The neighborhood has experienced consistent development of affordable housing for more than two decades, with a particular focus in the 2010s. While LIHTC units constitute a small percentage of the estimated housing stock, they provide essential affordable options, particularly for smaller households. The demographic trends, including stable population levels and fluctuating median incomes, suggest an ongoing need for affordable housing in this predominantly Black community.
