Bay Village, Ohio, zip code 44140, contains a total of 148 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. This inventory represents approximately 2.4% of the estimated 6,137 housing units in the zip code. The LIHTC program has invested $1,100,000 in tax credits for affordable housing projects in this area, averaging about $7,432 per unit. This zip code accounts for 0.26% of the total LIHTC funding allocated to Ohio.

The Knickerbocker Apartments, completed in 2018, is the only LIHTC-funded project in zip code 44140. This development marks the introduction of LIHTC-funded affordable housing in the area. The project consists of 148 units, including 58 efficiencies, 89 one-bedroom units, and 1 two-bedroom unit, suggesting a focus on accommodating smaller households or individuals.

Zip code 44140 has experienced slight population fluctuations over the past decade, increasing from 15,229 in 2020 to 16,017 in 2022. The median income has shown an overall upward trend, rising from $89,206 in 2013 to $111,552 in 2022, with some year-to-year variations. Racial demographics have remained relatively stable, with the white population consistently representing the majority (93% in 2022). There has been a slight increase in diversity, with small increases in Hispanic (3% in 2022) and two or more races (2% in 2022) populations.