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Affordable Housing Analysis in Zip Code 45440: Kettering Square Apartments
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 45440 in Kettering, Ohio, contains 165 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. This zip code spans 9.24 square miles and had a population of 22,109 in 2022. Based on the national average household size of 2.61, the estimated number of housing units in this zip code is 8,471. The LIHTC funded affordable housing constitutes approximately 1.95% of the estimated housing inventory in this area.
The LIHTC program has allocated $245,628 in tax credits for affordable housing projects in zip code 45440. This equates to an average federal funding of $1,489 per unit. This zip code represents 0.06% of the total LIHTC funding allocated to Ohio.
The affordable housing in this zip code is comprised of a single project, Kettering Square Apartments, completed in 2003. This project has provided affordable housing options in the area for nearly two decades. Kettering Square Apartments offers 12 one-bedroom units, 91 two-bedroom units, and 62 three-bedroom units, accommodating households of various sizes.
Zip code 45440 has experienced demographic changes over the past decade. The population increased from 20,421 in 2018 to 22,109 in 2022, indicating growing housing demand. Median income rose from $90,432 in 2018 to $92,128 in 2022, suggesting improved economic conditions.
Racial demographics have remained relatively stable. The white population decreased slightly from 88% in 2018 to 83% in 2022. There were small increases in Hispanic, Asian, and multi-racial populations.
Despite these demographic shifts, no new LIHTC projects have been developed in the last decade. This may be due to the relatively high median income in the area, potentially reducing the perceived need for additional affordable housing units.
Zip code 45440 in Kettering, Ohio, has one LIHTC-funded affordable housing project, Kettering Square Apartments, providing 165 low-income units. This project, completed in 2003, represents about 1.95% of the estimated housing inventory in the area. The zip code has experienced population growth and increased median income over the past decade, along with slight increases in racial diversity. While no new LIHTC projects have been developed recently, the existing project continues to provide affordable housing options for the community.
