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Affordable Housing Analysis in Zip Code 45039: Hopkins Commons Project
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 45039, located in Landen, Ohio, contains one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project. This project, Hopkins Commons, provides 33 units, all designated as low-income. The LIHTC-funded affordable housing comprises approximately 0.33% of the total housing stock, based on an estimated housing inventory of 9,879 units for the zip code.
The LIHTC program has invested $600,000 in tax credits for affordable housing in zip code 45039. This investment equates to an average federal funding of $18,182 per unit and represents 0.14% of the total LIHTC funding allocated to Ohio. Hopkins Commons, completed in 2018, is the only LIHTC-funded project in the area. The project consists of 21 one-bedroom units and 12 two-bedroom units.
Zip code 45039 experienced significant population growth over the past decade, increasing from 20,704 in 2013 to 25,783 in 2022, a 24.5% increase. The median income rose from $91,008 in 2013 to $100,038 in 2022, indicating an overall improvement in economic conditions. The racial composition remained relatively stable, with a slight decrease in the white population from 95% in 2013 to 90% in 2022, and small increases in Asian, Black, and Hispanic populations.
The construction of Hopkins Commons in 2018 aligns with the period of population growth and increasing median income. This suggests that despite overall economic improvement, there was a recognized need for affordable housing options in the area.
Zip code 45039 has a single LIHTC-funded affordable housing project, Hopkins Commons, providing 33 low-income units. This represents a small fraction of the estimated housing inventory but demonstrates a commitment to addressing affordable housing needs in a growing and relatively affluent area. The project's completion in 2018 coincides with a period of population growth and rising median incomes, indicating an effort to maintain housing accessibility amidst changing demographics. The limited scale of LIHTC-funded housing in this zip code suggests that other housing programs or market-rate options may be meeting additional affordable housing needs in the community.
