Loading Content...
Affordable Housing Analysis in Zip Code 43227: Two Decades of LIHTC Projects
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 43227 in Columbus, Ohio, has a population of 25,181 as of 2022, covering an area of 4.13 square miles. This zip code contains a notable Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory, comprising 104 total units, of which 59 are designated as low-income units. The LIHTC-funded affordable housing represents approximately 1.08% of the zip code's estimated housing stock of 9,648 units.
The LIHTC projects in zip code 43227 have received $804,197 in project tax credits, averaging $7,733 per unit. This allocation represents 0.19% of Ohio's total LIHTC funding, indicating a modest but significant investment in affordable housing for this area.
Affordable housing has been present in zip code 43227 for over two decades. The initial LIHTC project, Parkview Apts, was completed in 1991, while the most recent, CHN Far North, was finished in 2014. The 2010s witnessed the highest activity, with four projects completed: Barnett Plaza (2009), Commons At Livingston (2011), Commons At Livingston Phase II (2013), and CHN Far North (2014).
The LIHTC-funded housing in zip code 43227 primarily consists of one-bedroom units, with 58 such units available. There are also 2 two-bedroom units, but no data is available for efficiencies, three-bedroom, or four-bedroom units.
Over the past decade, the population in zip code 43227 has shown a steady increase, growing from 22,654 in 2013 to 25,181 in 2022. This 11% population growth may have contributed to the need for additional affordable housing units, as evidenced by the LIHTC projects completed during this period.
The median income in zip code 43227 has fluctuated but generally increased over the past decade, rising from $38,152 in 2013 to $41,387 in 2022. Despite this increase, the median income remains relatively low, suggesting an ongoing need for affordable housing options.
Racial demographics in zip code 43227 have shown some shifts over the past decade. The Black population has increased from 58% in 2013 to 65% in 2022, while the White population has decreased from 26% to 21%. The Hispanic population has remained relatively stable, increasing slightly from 7% to 9%. These demographic changes may influence the demand for affordable housing and the types of services needed in LIHTC-funded projects.
Zip code 43227 in Columbus, Ohio, has a modest but important LIHTC-funded affordable housing inventory, covering about 1.08% of the estimated housing stock. The area has seen consistent investment in affordable housing over the past three decades, with the most activity occurring in the 2010s. The predominance of one-bedroom units in LIHTC projects suggests a focus on smaller households or individuals.
The growing population, relatively low median income, and shifting racial demographics in zip code 43227 underscore the ongoing importance of affordable housing initiatives. While the LIHTC program has made a notable contribution to the area's affordable housing stock, the current inventory may not fully meet the estimated needs of the low-income population, suggesting potential opportunities for further affordable housing development in this zip code.
