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Affordable Housing Dynamics in Zip Code 44094: LIHTC Projects and Demographic Shifts in Kirtland, 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 44094, located in Kirtland, Ohio, has a population of 36,115 as of 2022 and covers an area of 38.82 square miles. This zip code contains two Low-Income Housing Tax Credit (LIHTC) funded affordable housing projects, providing 186 units, with 185 designated as low-income units. The LIHTC funded affordable housing comprises approximately 1.34% of the zip code's estimated housing inventory of 13,837 units.
The LIHTC projects in zip code 44094 have received $346,265 in tax credits, averaging about $1,862 per unit. This zip code accounts for 0.08% of the total state LIHTC funding. The first LIHTC project, Oak Hill Village, was completed in 2002, and the most recent, Mary Rose Estates, in 2013. The 2000s witnessed the most affordable housing development activity in this zip code.
The LIHTC projects in zip code 44094 offer 45 one-bedroom units, 115 two-bedroom units, and 22 three-bedroom units, indicating a focus on accommodating small to medium-sized families.
The population in zip code 44094 has increased gradually over the past decade, from 34,272 in 2013 to 36,115 in 2022. The median income has risen from $66,657 in 2013 to $76,144 in 2022, suggesting overall economic improvement in the area.
Racial demographics in zip code 44094 have remained relatively stable. The white population decreased slightly from 91% in 2013 to 89% in 2022. There has been a small increase in diversity, with the Black population growing from 3% to 5% and the Hispanic population from 1% to 2% during this period. The completion of Mary Rose Estates in 2013 coincides with the beginning of this demographic trend.
Zip code 44094 has a modest LIHTC funded affordable housing inventory, comprising about 1.34% of its estimated housing stock. The area has seen two LIHTC projects developed over two decades, with the most recent addition in 2013. The population and median income have increased over the past decade, accompanied by a slight shift towards more diversity. The LIHTC projects provide a range of unit sizes to accommodate various household compositions, contributing to the area's affordable housing options.
