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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The Sharon Line-McGuffey Heights neighborhood in Youngstown, Ohio, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood has 307 units in LIHTC funded projects, with 290 designated as low-income units. Based on the 2022 population of 1,980 and using the national average household size, there are approximately 759 housing units in the neighborhood. LIHTC funded affordable housing covers about 40.4% of the estimated housing inventory, indicating a substantial contribution to the neighborhood's affordable housing needs.
The LIHTC projects in this neighborhood have received $1,569,324 in tax credits, averaging approximately $5,112 per unit. This federal funding has played a crucial role in developing affordable housing in the area. The first LIHTC project, Eastwood Village, was completed in 1997, while the most recent project, Youngstown Jubilee Homes V, was finished in 2004. This indicates that affordable housing has been a part of the neighborhood for over two decades. The early 2000s saw the most activity in affordable housing development, with four out of the five projects completed between 2004 and 2005.
The LIHTC funded projects in this neighborhood offer a diverse range of unit types. There are 43 one-bedroom units, 111 two-bedroom units, 9 three-bedroom units, and 57 four-bedroom units. This variety caters to different household sizes and needs within the low-income population.
Over the past decade, the neighborhood has experienced demographic shifts. The population has decreased from 2,508 in 2015 to 1,980 in 2022, a decline of about 21%. Despite this population decrease, the median income has shown an overall increase, rising from $19,372 in 2015 to $25,817 in 2022, representing a 33% increase. Racial demographics have also shifted. The Black population decreased from 59% in 2015 to 50% in 2022, while the White population increased from 27% to 39% during the same period. The Hispanic population has remained relatively stable, fluctuating between 8% and 15% over the decade. These demographic changes, particularly the declining population and increasing median income, may suggest evolving housing needs in the neighborhood. However, the continued presence of a significant low-income population underscores the ongoing importance of affordable housing options.
The Sharon Line-McGuffey Heights neighborhood demonstrates a substantial commitment to affordable housing through its LIHTC funded projects. With 307 total units, of which 290 are low-income, these projects cover a significant portion of the estimated housing inventory. The neighborhood saw most of its LIHTC development in the early 2000s, providing a variety of unit types to cater to diverse household needs. Despite demographic changes over the past decade, including population decline and increased median income, the presence of these affordable housing units continues to play a crucial role in meeting the community's housing needs.