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Affordable Housing Analysis in Zip Code 45215: LIHTC Funded Units in Wyoming, 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 45215 in Wyoming, Ohio, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory consisting of 6 total affordable units, all of which are designated as low-income units. Based on the 2022 population of 31,733 and an estimated 12,158 housing units, the LIHTC funded affordable housing covers approximately 0.05% of the zip code's estimated housing inventory. This indicates a very small proportion of LIHTC funded affordable housing in the area.
The LIHTC program has provided $7,743 in project tax credits for affordable housing in this zip code. With 6 total units funded, this translates to an average federal funding of $1,290.50 per unit. The zip code has two LIHTC funded projects: Glass Building and Oak Park Apts. The Glass Building, completed in 1992, represents the earliest known LIHTC project in the area. This suggests that affordable housing through the LIHTC program has been present in the zip code for at least three decades.
Over the past decade, the population in zip code 45215 has shown slight growth, increasing from 30,809 in 2013 to 31,733 in 2022. The median income has also risen significantly, from $62,757 in 2013 to $75,379 in 2022, indicating an overall improvement in economic conditions.
Racial demographics have remained relatively stable, with the white population consistently representing about 60% of the total, and the Black population around 30-33%. There has been a slight increase in the Asian population and those identifying as two or more races, growing from 1% to 2% and 3% to 5% respectively between 2013 and 2022.
The limited LIHTC development in recent years, coupled with rising median incomes, suggests that the demand for low-income housing may have decreased in this area. However, it is important to note that other affordable housing programs not captured in this data may be addressing housing needs in the community.
Zip code 45215 in Wyoming, Ohio, has a small LIHTC funded affordable housing inventory, covering only about 0.05% of the estimated housing units. The area has seen two LIHTC projects, with the earliest dating back to 1992. Over the past decade, the area has experienced population growth and a significant increase in median income. While LIHTC development has been limited, the changing demographics and economic conditions may have influenced the perceived need for additional low-income housing in this zip code.
