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Affordable Housing Analysis in Zip Code 43410: Three Decades of LIHTC Projects in Clyde, Ohio
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 43410 in Clyde, Ohio, contains a notable presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area encompasses 177 total units in LIHTC-funded projects, with 169 of these designated as low-income units. Based on the 2022 population of 10,363 and the national average household size, the estimated housing inventory in this zip code is approximately 3,970 units. The LIHTC-funded affordable housing constitutes about 4.5% of this estimated housing stock.
The LIHTC projects in this zip code have received $545,327 in tax credits, averaging about $3,080 per unit. This funding represents 0.13% of Ohio's total LIHTC allocation, indicating a modest but significant investment in affordable housing for this area.
Affordable housing has been present in this zip code for over three decades. The first LIHTC project, Norris Apts, was completed in 1988, while the most recent, Laurel Greene, was finished in 2004. The 1990s experienced the most activity, with three projects completed during that decade: Clyde Manor Apts (1991), Clyde Manor (1993), and Laurel Hurst (2003).
The LIHTC-funded housing in this zip code offers a range of unit sizes. There are 24 one-bedroom units, 41 two-bedroom units, 14 three-bedroom units, and 4 four-bedroom units. This distribution suggests an effort to accommodate various household sizes and needs within the community.
Over the past decade, the population in this zip code has remained relatively stable, fluctuating between about 9,982 and 10,363 residents. The median income has shown a general upward trend, increasing from $51,360 in 2017 to $56,084 in 2022, with some fluctuations in between.
The racial composition of the area has been predominantly white, consistently above 90% throughout the 2010s and into the 2020s. There has been a slight increase in diversity, with the Hispanic population growing from 4% in 2015 to 6% in 2022, and the percentage of residents identifying as two or more races increasing from 1% to 3% during the same period.
No new LIHTC projects have been completed in this zip code since 2004. This could be due to various factors, including changes in local housing needs, shifts in funding priorities, or potentially sufficient affordable housing stock relative to the area's demographics and economic conditions.
Zip code 43410 in Clyde, Ohio, has a modest but established affordable housing presence through the LIHTC program. The area's five LIHTC projects, built between 1988 and 2004, provide 177 units of affordable housing, representing about 4.5% of the estimated housing stock. This falls short of the ideal 15-20% affordable housing target.
The demographic trends show a stable population with a gradually increasing median income and slight increases in racial diversity. These factors, combined with the lack of new LIHTC projects since 2004, suggest that the current affordable housing stock may be meeting the area's needs, or that other factors are influencing affordable housing development in the zip code.
