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Affordable Housing Analysis in Zip Code 44811: LIHTC-Funded Units in Bellevue, 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 44811 in Bellevue, Ohio, contains 100 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. These units, all designated as low-income, represent approximately 1.98% of the zip code's estimated 5,045 housing units, based on the 2022 population of 13,168.
The LIHTC projects in this zip code have received $361,818 in tax credits, averaging $3,618 per unit in federal funding. This amount constitutes 0.09% of the total LIHTC funding allocated to Ohio, indicating a small but notable contribution to the state's affordable housing initiatives.
Affordable housing development in this zip code spans over two decades. The initial project, Sir Frederick Apts, was completed in 1989, while the most recent, Nickel Plate Plaza, was finished in 2015. The 1980s and 1990s marked the beginning of affordable housing development in the area, with renewed investment occurring in the 2010s through the Nickel Plate Plaza project.
The LIHTC funded housing in zip code 44811 comprises 16 one-bedroom units and 32 two-bedroom units, offering a variety of housing options for different household sizes. None of the projects specify target populations, suggesting they serve a general low-income demographic.
Over the past decade, the population in zip code 44811 has remained relatively stable, fluctuating between 12,800 and 13,300 residents. The median income has shown a gradual increase from $52,587 in 2013 to $60,561 in 2022, indicating a modest improvement in economic conditions.
The racial composition of zip code 44811 has remained predominantly white, although there has been a slight decrease from 96% in 2013 to 91% in 2022. The Hispanic population has seen a small increase, from 1% in 2013 to 6% in 2022, suggesting growing diversity in the area.
The stability in population and gradual increase in median income may explain the limited new LIHTC development in recent years, as the existing affordable housing stock might be meeting current needs.
Zip code 44811 has an established LIHTC funded affordable housing presence, covering nearly 2% of its estimated housing inventory. The area has experienced sporadic affordable housing development over the past three decades, with the most recent project completed in 2015. While the population has remained stable and median income has increased slightly, there has been a minor shift in racial demographics. These factors, combined with the existing affordable housing stock, may influence future affordable housing needs and development in the area.
