Loading Content...
Affordable Housing Analysis in Zip Code 44130: Educator Apts Project
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 44130 in Ohio, which includes Middleburg Heights, presents a unique case study in affordable housing provision through the Low-Income Housing Tax Credit (LIHTC) program. As of 2022, this area had a population of 50,774 and an estimated 19,454 housing units. The LIHTC program has funded one project in this zip code, known as Educator Apts, which provides 96 low-income units. This represents approximately 0.49% of the estimated housing inventory in the area.
The LIHTC program has invested $350,053 in tax credits for affordable housing in zip code 44130. This investment translates to an average federal funding of about $3,646 per unit in the Educator Apts project. This investment represents 0.08% of Ohio's total LIHTC funding, indicating a relatively small but notable contribution to the state's affordable housing efforts.
Educator Apts, completed in 2005, marks the beginning of LIHTC-funded affordable housing in this zip code. The project consists of 96 units, including 9 one-bedroom and 8 two-bedroom apartments. This distribution suggests a focus on smaller households, possibly catering to individuals or small families.
Demographic trends over the past decade reveal interesting patterns in zip code 44130. The population has remained relatively stable, with a slight increase from 49,824 in 2019 to 50,774 in 2022. Median income has also seen growth, rising from $60,191 in 2019 to $61,734 in 2022, indicating a gradual improvement in economic conditions.
Racial demographics have shifted slightly in this zip code. The white population decreased from 82% in 2019 to 77% in 2022. Conversely, there has been a small increase in diversity, with the Black population growing from 5% to 9%, and the Asian and Hispanic populations remaining relatively stable at 4% and 6% respectively.
These demographic changes, particularly the increase in median income, might suggest an evolving need for affordable housing in the area. However, the stability in population and moderate income growth could also indicate a balanced housing market that has not necessitated additional LIHTC projects since 2005.
In summary, the LIHTC program has made a modest contribution to affordable housing in zip code 44130, representing one aspect of the area's housing landscape. The single project, Educator Apts, has provided consistent affordable housing options for over 15 years. As demographics continue to shift, ongoing assessment of affordable housing needs will be crucial to ensure the community's housing remains accessible to all income levels.
