Affordable Housing Analysis in Cincinnati's 45227 Zip Code: LIHTC Investments and Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
DATA SOURCE
Cincinnati's zip code 45227 contains a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. This area encompasses 261 affordable units, all categorized as low-income units. Based on the 2022 population of 17,792 and an estimated 6,817 housing units in the zip code, LIHTC-funded affordable housing constitutes approximately 3.8% of the total housing stock.
The LIHTC program has made substantial investments in this zip code, with project tax credits amounting to $1,000,000. This equates to an average federal funding of $3,831 per affordable unit. Zip code 45227 accounts for 0.24% of Ohio's total LIHTC funding allocation, indicating a moderate level of investment in affordable housing for this area.
Affordable housing has been present in this zip code for over a decade. The first LIHTC project, St Paul Village I, was completed in 2011, and the most recent, Madison Villa, was finished in 2019. The 2010s witnessed the highest affordable housing development activity, with three projects completed during this period.
The LIHTC-funded housing in zip code 45227 comprises 261 units, including 7 efficiencies and 161 one-bedroom apartments. This composition indicates a focus on housing for smaller households or individuals.
Over the past decade, the zip code's population has remained relatively stable, increasing slightly from 17,649 in 2010 to 17,792 in 2022. The median income has grown significantly, rising from $59,155 in 2013 to $66,686 in 2022, suggesting improving economic conditions for residents.
Racial demographics have shifted noticeably in zip code 45227. The white population increased from 60% in 2013 to 70% in 2022, while the black population decreased from 34% to 22% during the same period. The Asian and Hispanic populations have remained relatively stable, each representing about 1-3% of the total population.
The completion of Madison Villa in 2019 coincides with a period of increasing median income and changing racial demographics, suggesting that affordable housing development has continued even as the area's economic profile evolved.
Zip code 45227 in Cincinnati demonstrates a modest but consistent commitment to affordable housing through the LIHTC program. With 261 low-income units representing about 3.8% of the estimated housing stock, the area has made progress in providing affordable options. The investment of $1 million in tax credits and the construction of three projects over a decade highlight ongoing efforts to address housing needs. While demographic shifts and rising median incomes have occurred, the continued development of affordable housing suggests an acknowledgment of persistent affordability challenges for some residents in this evolving community.
