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Washington/Rosedale: Analyzing Affordable Housing in a Changing 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
Washington/Rosedale, a neighborhood in Pottstown, Pennsylvania, has a single Low-Income Housing Tax Credit (LIHTC) funded affordable housing project. This project, completed in 1993, contains 10 units, with one designated as a low-income unit. The LIHTC program has provided $27,326 in tax credits for this project, averaging $2,733 per unit. Based on the 2022 population of 3,860 and an estimated 1,479 housing units, the LIHTC-funded affordable housing represents approximately 0.68% of the neighborhood's estimated housing inventory.
The project, named "Steps - King Street," consists of 7 one-bedroom units and 3 two-bedroom units, catering to smaller households such as individuals, couples, or small families. This composition reflects the affordable housing options available in the neighborhood for nearly three decades.
Demographic trends in Washington/Rosedale indicate potential changes in affordable housing needs. The population has slightly decreased from 4,018 in 2013 to 3,860 in 2022. More significantly, the median income has declined from $76,860 in 2013 to $66,562 in 2022, suggesting an increasing need for affordable housing options.
Racial demographics in the neighborhood have also shifted. The white population has decreased from 72% in 2013 to 65% in 2022, while the Black population has increased from 17% to 23%. The Hispanic population has grown from 6% in 2013 to 9% in 2022. These changes indicate growing diversity in the neighborhood, which may influence future affordable housing requirements.
Despite these demographic shifts, no new LIHTC projects have been developed in Washington/Rosedale since 1993. This lack of recent development may be attributed to various factors, including land availability, local policies, or funding priorities.
The LIHTC-funded affordable housing in Washington/Rosedale, while limited to one project, has been a consistent part of the community's housing landscape for about three decades. The declining median income and increasing diversity suggest a potential growing demand for affordable housing options. However, the absence of new LIHTC projects in recent years indicates that other factors may be influencing affordable housing development in the neighborhood. A comprehensive assessment of the area's housing needs and development opportunities may be necessary to determine if additional affordable housing initiatives are required to meet the evolving needs of the Washington/Rosedale community.
