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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Nashport, Ohio, zip code 43830, is a rural area with a population of 6,165 as of 2022. The Low-Income Housing Tax Credit (LIHTC) program has funded affordable housing projects in this zip code, resulting in 56 total affordable units, all of which are designated as low-income units. Based on the estimated housing inventory of 2,362 units, LIHTC-funded affordable housing covers approximately 2.37% of the zip code's housing stock.
The LIHTC program has invested $257,552 in tax credits for affordable housing projects in this zip code. This translates to an average federal funding of $4,599 per unit. Notably, this zip code holds 0.06% of Ohio's total LIHTC funding allocation.
The earliest recorded LIHTC project in the area is Clubview Apartments, completed in 1998. This project has been providing affordable housing options in the zip code for over two decades. The 1990s saw the most affordable housing development activity in this area.
The LIHTC-funded projects in this zip code consist of 56 units, including 16 two-bedroom units and 4 three-bedroom units. This distribution suggests a focus on accommodating small to medium-sized families in the area's affordable housing inventory.
Over the past decade, the population in zip code 43830 has shown a steady increase, growing from 5,673 in 2015 to 6,165 in 2022. The median income has fluctuated, with a notable increase from $59,121 in 2019 to $63,616 in 2022. This upward trend in income might indicate a changing economic landscape in the area.
The racial composition of the zip code has remained relatively stable, with the white population consistently representing over 90% of residents. There has been a slight increase in diversity, with the percentage of residents identifying as two or more races growing from 1% in 2015 to 4% in 2022.
The LIHTC program has made a modest contribution to the affordable housing inventory in zip code 43830, with 56 low-income units representing 2.37% of the estimated housing stock. This falls short of the target 15-20% affordable housing stock for a well-balanced community.
The area has seen consistent population growth and income increases over the past decade, which could influence the demand for affordable housing. The stability in racial composition, with a slight trend towards increased diversity, may also factor into future affordable housing needs and development strategies.
Given the rural nature of the area and its demographic trends, continued monitoring of affordable housing needs and potential for future LIHTC projects may be warranted to ensure housing options remain accessible to all income levels in the community.