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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 19125 in Philadelphia, Pennsylvania, contains 81 total units in Low-Income Housing Tax Credit (LIHTC) funded projects, with 80 designated as low-income units. Based on the 2022 population of 25,113 and the national average household size of 2.61, there are approximately 9,622 housing units in this zip code. The LIHTC-funded affordable housing represents about 0.84% of the estimated housing inventory in this area.
The LIHTC projects in zip code 19125 have received $1,675,388 in tax credits, averaging approximately $20,684 per unit. This zip code holds 0.28% of the total state LIHTC funding, indicating a modest allocation of resources for affordable housing in this area.
The affordable housing presence in zip code 19125 spans several decades. The earliest LIHTC projects were completed in 1989, including properties on E Harold St, E Cumberland St, and Amber St. The most recent project, St Francis Villa Sr Hsg, was completed in 2016. This 27-year span demonstrates a long-term commitment to affordable housing in the area.
The 1980s saw the most affordable housing activity in zip code 19125, with six projects completed in 1989 alone. The 1990s also saw continued development, with projects completed in 1991 and 1994. Notable projects include the Coral St Arts House completed in 2005 and the aforementioned St Francis Villa Sr Hsg in 2016.
The LIHTC-funded housing in zip code 19125 offers a diverse range of unit types. It includes 1 efficiency unit, 22 one-bedroom units, 13 two-bedroom units, 8 three-bedroom units, and 3 four-bedroom units. This variety caters to different household sizes and needs within the low-income population.
Over the past decade, zip code 19125 has experienced population growth, rising from 22,368 in 2014 to 25,113 in 2022. Concurrently, median income has increased significantly, from $48,512 in 2014 to $81,392 in 2022. The racial composition has remained relatively stable, with a slight increase in diversity. The white population has maintained a majority at around 74%, while there have been small increases in Asian, Black, and multiracial populations.
Despite the rising median income, the completion of St Francis Villa Sr Hsg in 2016 indicates a continued need for affordable housing, particularly for senior citizens. This suggests that while overall economic indicators have improved, there remains a segment of the population requiring affordable housing options.
Zip code 19125 in Philadelphia has an established foundation of LIHTC-funded affordable housing, developed over nearly three decades. While these units represent a small percentage of the overall housing stock, they provide crucial low-income housing options. The area has seen economic growth and slight increases in diversity over the past decade, yet the continued development of affordable housing projects indicates an ongoing need for such accommodations, particularly for specific populations like seniors. The variety of unit types available in LIHTC projects demonstrates an effort to meet diverse housing needs within the low-income community.