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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The Twin Towers neighborhood in Dayton, Ohio, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory consists of 125 total units, with 17 designated as low-income units. Based on the estimated 1,153 housing units in the neighborhood, the LIHTC funded affordable housing covers approximately 10.8% of the neighborhood's housing inventory.
The LIHTC program has invested $79,584 in project tax credits for affordable housing in Twin Towers. This translates to an average federal funding of $636.67 per unit across all LIHTC-funded projects in the neighborhood.
Affordable housing has been a part of Twin Towers for over a decade. The first LIHTC project, Twin Towers Place, was completed in 2008, while the most recent project, Twin Towers Crossing II, was finished in 2013. This five-year period saw the development of all three LIHTC projects in the neighborhood, indicating a concentrated effort to increase affordable housing options during that time.
The LIHTC-funded housing in Twin Towers offers a diverse range of unit types. The inventory includes 6 efficiencies, 74 one-bedroom units, 1 two-bedroom unit, 8 three-bedroom units, and 36 four-bedroom units. This distribution suggests a focus on accommodating various household sizes, with a particular emphasis on single-occupancy and larger family units.
Over the past decade, Twin Towers has experienced some demographic shifts that may correlate with the LIHTC developments. The population has remained relatively stable, fluctuating between 2,700 and 3,300 residents. However, the median income has shown a significant upward trend, rising from $15,914 in 2013 to $28,307 in 2022. This increase in median income could potentially indicate improved economic conditions for residents, possibly influenced by the availability of affordable housing options.
Racial demographics have also shifted during this period. The white population decreased from 77% in 2013 to 58% in 2022, while the Black population increased from 4% to 22%. The Hispanic population has remained relatively stable, fluctuating between 6% and 14%. These changes suggest an increase in racial diversity within the neighborhood, which may be partially attributed to the availability of affordable housing options.
The Twin Towers neighborhood in Dayton, Ohio, has benefited from LIHTC-funded affordable housing developments over the past decade. With 125 total units, including 17 low-income units, these projects contribute to approximately 10.8% of the estimated housing inventory. The LIHTC program has invested an average of $636.67 per unit in federal funding. The neighborhood offers a diverse range of unit types, catering to various household sizes. Concurrent with these housing developments, the area has experienced a significant increase in median income and a shift towards greater racial diversity. These trends suggest that the LIHTC-funded affordable housing may be playing a role in the neighborhood's evolving socioeconomic landscape.