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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 43228 in Columbus, Ohio, presents a case study in affordable housing. This area, spanning 20.15 square miles, has a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The zip code contains 2,155 total units in LIHTC-funded projects, with 1,509 of these designated as low-income units. Based on the 2022 population of 59,167 and the national average household size of 2.61, there are approximately 22,669 housing units in the zip code. The LIHTC-funded affordable housing represents about 9.5% of the estimated housing inventory, indicating a substantial contribution to the area's affordable housing needs.
The LIHTC projects in zip code 43228 have received $5,244,345 in tax credits, averaging about $2,434 per unit in federal funding. This zip code accounts for 1.23% of Ohio's total LIHTC funding, suggesting a notable concentration of affordable housing investment in this area.
Affordable housing has been a feature of zip code 43228 since 1989, with projects spanning to 2020. The first LIHTC project, Oak Run Apartments, was completed in 1989, while the most recent, Crosswinds Village, was finished in 2020. This 31-year span demonstrates a consistent commitment to affordable housing in the area.
The 1990s saw the most affordable housing development in zip code 43228, with projects like Emerald Glen Apartments (1995), West Bay Apartments (1996), and River Pointe Apartments (1997) being completed. The early 2000s also saw significant activity, including Hilltop Senior Village (2001) and Norton Village (2003).
The LIHTC-funded housing in zip code 43228 offers a range of unit types. Of the 2,155 total units, there are 565 one-bedroom, 1,033 two-bedroom, 150 three-bedroom, and 24 four-bedroom units. This distribution suggests a focus on accommodating various family sizes and needs.
Over the past decade, zip code 43228 has experienced population growth, increasing from 55,028 in 2013 to 59,167 in 2022. Median income has also risen, from $45,154 in 2013 to $57,483 in 2022, indicating improving economic conditions for residents.
The racial composition of zip code 43228 has shifted slightly. The white population decreased from 62% in 2013 to 59% in 2022, while the Black population increased from 15% to 20%. The Hispanic population decreased slightly from 16% to 12%. These demographic changes may influence the ongoing need for affordable housing in the area.
Despite the overall income increase, the continued development of LIHTC projects (such as Crosswinds Village in 2020) suggests a persistent demand for affordable housing. This could indicate that while overall economic conditions have improved, there remains a portion of the population in need of affordable housing options.
Zip code 43228 in Columbus, Ohio, demonstrates a commitment to affordable housing through the LIHTC program. With 2,155 total units, of which 1,509 are low-income, LIHTC-funded projects make up about 9.5% of the estimated housing inventory. The area has seen affordable housing development over three decades, with a range of unit types to accommodate various household sizes. While the zip code has experienced population growth and increasing median income over the past decade, the continued development of LIHTC projects suggests an ongoing need for affordable housing options. The changing racial demographics of the area may also influence future affordable housing needs and development patterns.