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Affordable Housing Analysis in Zip Code 43558: LIHTC Projects in Swanton, 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
The zip code 43558, which encompasses Swanton in Ohio, has a population of 13,481 as of 2022. This area contains 88 units in Low-Income Housing Tax Credit (LIHTC) funded affordable housing projects, with 34 of these designated as low-income units. Based on the estimated housing inventory of 5,165 units, LIHTC funded affordable housing comprises approximately 1.7% of the zip code's housing stock.
The LIHTC projects in zip code 43558 have received $1,124,169 in tax credits, averaging $12,774 per unit. This funding represents 0.26% of Ohio's total LIHTC allocation, indicating a small but significant investment in affordable housing for this area. Affordable housing has been present in this zip code since at least 2005, with the completion of Paigelynn Place. The most recent project, Swan Creek Crossing, was completed in 2020, demonstrating a 15-year span of LIHTC development in the area.
The LIHTC funded housing inventory in zip code 43558 consists of 21 one-bedroom units, 11 two-bedroom units, 28 three-bedroom units, and 28 four-bedroom units. This distribution indicates a focus on accommodating both smaller households and larger families within the affordable housing stock.
Over the past decade, the population in zip code 43558 has remained relatively stable, fluctuating between approximately 12,400 and 13,500 residents. The median income has shown a general upward trend, increasing from $62,879 in 2013 to $66,039 in 2022, with some fluctuations in between. The racial composition of the area has remained predominantly white, consistently above 89% throughout the past decade. However, there has been a slight increase in diversity, with the percentage of residents identifying as two or more races growing from 1% in 2013 to 4% in 2022.
The completion of Swan Creek Crossing in 2020 aligns with a period of population growth and income increase in zip code 43558, suggesting a response to evolving housing needs in the area. The 43558 zip code has a modest LIHTC funded affordable housing inventory, covering about 1.7% of the estimated housing stock. The area has seen two LIHTC projects developed over a 15-year period, with the most recent completed in 2020. While the affordable housing stock is relatively small compared to the overall housing inventory, it provides a range of unit sizes to accommodate diverse household needs. The demographic trends show a stable population with increasing median income and slight growth in racial diversity, which may influence future affordable housing needs in the area.
