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Affordable Housing Analysis: Zip Code 45806's LIHTC Funded Inventory in Fort Shawnee, 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
Fort Shawnee, located in zip code 45806 in Ohio, possesses a LIHTC funded affordable housing inventory. The area contains 5 total affordable units, all of which are classified as low-income units. Based on the 2022 population of 10,846 and the national average household size of 2.61, an estimated 4,156 housing units exist in the zip code. The LIHTC funded affordable housing comprises approximately 0.12% of the estimated housing inventory in this zip code.
The LIHTC program has allocated $56,548 in project tax credits for affordable housing in zip code 45806. This equates to an average federal funding of $11,310 per unit. This zip code accounts for 0.01% of the total state LIHTC funding, indicating a relatively small portion of Ohio's affordable housing resources.
Westwood Village, completed in 1996, is the sole LIHTC project in this zip code. This project has provided affordable housing in the area for over 25 years. The 5 units in Westwood Village consist of 3 one-bedroom and 2 two-bedroom units, offering housing options for smaller households.
The population in zip code 45806 has remained relatively stable over the past decade, fluctuating between 10,500 and 11,000 residents. The median income has increased significantly, rising from $58,353 in 2013 to $73,684 in 2022, suggesting an overall improvement in economic conditions.
Racial demographics have shifted slightly, with the white population decreasing from 92% in 2013 to 87% in 2022. There has been a small increase in diversity, with slight growth in Black, Hispanic, and multiracial populations. The Asian population has remained stable at approximately 1-2%.
Despite the rising median income, a segment of the population may still require affordable housing options. The absence of new LIHTC projects in the last decade could be attributed to various factors, including the relatively small size of the community or the availability of other affordable housing programs not captured in this data.
Zip code 45806 has a small but long-standing LIHTC funded affordable housing presence, represented by the Westwood Village project. While the affordable housing inventory covers a small percentage of the estimated housing units, it has provided low-income housing options for over two decades. The area has experienced economic growth as evidenced by rising median incomes, and a slight increase in racial diversity. Further analysis of local housing needs and alternative affordable housing programs would provide a more comprehensive understanding of the area's affordable housing landscape.
