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Affordable Housing Analysis in Zip Code 43016: Dublin's LIHTC-Funded Projects
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 43016 in Dublin, Ohio, contains a small but significant inventory of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area encompasses 61 total units in LIHTC funded projects, with 9 units designated as low-income. Based on the 2022 population of 43,278 and an estimated 16,581 housing units, LIHTC funded affordable housing represents approximately 0.37% of the zip code's estimated housing inventory.
The LIHTC projects in this zip code have received $920,000 in project tax credits, averaging about $15,082 per unit when divided by the total number of units. This funding constitutes 0.22% of Ohio's total LIHTC allocation, indicating a relatively small but notable investment in affordable housing for this area.
The initial LIHTC project in the zip code, Avondale Woods Of Dublin, was completed in 2013, while the most recent, Avondale II, was finished in 2018. This five-year span demonstrates a sustained commitment to affordable housing development in the area. The 2010s witnessed the most affordable housing activity, with both projects being completed during this decade.
The LIHTC funded projects in this zip code offer a variety of unit types, with 33 one-bedroom and 28 two-bedroom units. This distribution indicates a focus on housing for smaller households or families.
Over the past decade, zip code 43016 has experienced significant population growth, increasing from 31,677 in 2010 to 43,278 in 2022. The median income has fluctuated but remained consistently high, reaching $106,905 in 2022. The racial composition has remained relatively stable, with a slight increase in diversity. The Asian population has grown from 17% in 2013 to 21% in 2022, while the white population has decreased slightly from 73% to 69% during the same period.
The development of LIHTC projects in 2013 and 2018 aligns with the area's population growth, potentially responding to increased housing demand across various income levels. However, the high median income and relatively low percentage of affordable housing suggest that market-rate housing dominates the area.
Zip code 43016 in Dublin, Ohio, has a small but notable LIHTC funded affordable housing inventory, representing about 0.37% of the estimated housing stock. The area has seen two LIHTC projects completed in the past decade, coinciding with significant population growth and consistently high median incomes. While the LIHTC program has contributed to the area's housing diversity, the overall percentage of affordable units remains low compared to the total housing stock, reflecting the zip code's affluent characteristics.
