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Affordable Housing in Zip Code 19147: Three Decades of LIHTC Development in Philadelphia
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 19147 in Philadelphia, Pennsylvania, contains a significant number of affordable housing units funded through the Low-Income Housing Tax Credit (LIHTC) program. This area has 762 affordable units, all classified as low-income. These LIHTC-funded units represent approximately 4.97% of the estimated 15,320 total housing units in the zip code.
The LIHTC projects in zip code 19147 have received $5,321,203 in tax credits, averaging $6,982 per unit in federal funding. This zip code accounts for 0.89% of the total LIHTC funding allocated to Pennsylvania, indicating a concentrated investment in affordable housing in this area.
Affordable housing has been present in zip code 19147 for over 30 years. The initial LIHTC project, 514 Reed St, was completed in 1988, while the most recent, Courtyard Preservation, was finished in 2020. The 1980s were the most active period for affordable housing development, with four projects completed during that decade, including 509 Reed St, 1216 Christian St, and 1437 S Sixth St.
The LIHTC-funded housing in zip code 19147 offers various unit types. The 762 total units consist of 9 efficiencies, 196 one-bedroom units, 205 two-bedroom units, 205 three-bedroom units, and 35 four-bedroom units. This distribution indicates an effort to accommodate different household sizes and needs.
Zip code 19147 has experienced population growth over the past decade, increasing from 34,786 in 2010 to 39,984 in 2022. The median income has also risen significantly, from $70,707 in 2013 to $91,741 in 2022. Despite this economic growth, the continued development of LIHTC projects suggests an ongoing need for affordable housing in the area.
The racial composition of zip code 19147 has remained relatively stable. The white population increased slightly from 66% in 2013 to 69% in 2022. The Asian population decreased from 12% to 10%, while the Black population remained steady at 8-9%. The Hispanic population decreased from 10% to 7% during this period.
Zip code 19147 in Philadelphia demonstrates a consistent commitment to affordable housing through the LIHTC program. With 762 low-income units across various projects, the area has maintained a steady affordable housing presence for over 30 years. The diverse unit mix serves different household sizes, and the continued development of LIHTC projects indicates ongoing efforts to address affordable housing needs despite rising incomes and population growth. The zip code's significant share of state LIHTC funding underscores its importance in Pennsylvania's affordable housing landscape.
