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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Forest, Ohio, zip code 45843, is a rural area with a population of 4,354 as of 2022. This zip code has one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project, providing a total of 24 low-income units. Based on the estimated housing inventory of approximately 1,668 units, the LIHTC-funded affordable housing covers about 1.44% of the zip code's housing stock.
The LIHTC program has allocated $14,142 in tax credits for affordable housing in this zip code. This translates to an average federal funding of $589.25 per unit. The sole LIHTC project in this area is Sharon Apts, completed in 1996. This indicates that affordable housing has been present in the zip code for over 25 years.
The Sharon Apts project consists of 24 units, all of which are designated as low-income units. The unit distribution includes 8 one-bedroom and 16 two-bedroom apartments, catering to various household sizes within the low-income population.
Over the past decade, the zip code's population has remained relatively stable, fluctuating between 4,200 and 4,600 residents. The median income has shown some variability, ranging from about $55,000 to $63,000. This moderate income level suggests a continued need for affordable housing options in the area.
The racial composition of the zip code has been predominantly white, consistently above 95% throughout the past decade. There has been a slight increase in diversity, with small percentages of Hispanic, Black, and multiracial residents emerging in recent years.
Forest's zip code 45843 has a single LIHTC-funded affordable housing project that has been serving the community for over two decades. While the 24 low-income units represent a small fraction of the estimated housing inventory, they provide crucial affordable housing options for the area. The stable population and moderate income levels indicate an ongoing need for affordable housing in this rural Ohio community. The lack of new LIHTC projects in recent years may warrant further investigation into current affordable housing needs and potential opportunities for additional development.