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Affordable Housing in Avondale: Three Decades of LIHTC Development
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Avondale, a neighborhood in Cincinnati, Ohio, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood currently hosts 224 total units in LIHTC funded projects, with 179 of these designated as low-income units. Based on the 2022 population of 7,223 and using the national average household size of 2.61, there are approximately 2,767 housing units in the neighborhood. The LIHTC funded affordable housing covers about 8.1% of the estimated housing inventory in Avondale.
The LIHTC program has invested significantly in Avondale, with project tax credits totaling $1,497,604. This translates to an average federal funding of about $6,686 per unit in LIHTC funded projects. Affordable housing has been a long-standing feature in Avondale, with the earliest LIHTC project, Northern Apts, completed in 1987, and the most recent, Avondale Town Center North, finished in 2019. This represents over three decades of affordable housing development in the neighborhood.
The 1990s saw the most affordable housing activity, with four projects completed during this decade: Bathgate Apts (1993), Rockdale Manor (1995), St Clair Manor Apts (1996), and Avon View Apts (2000). The housing inventory includes a diverse mix of unit types, with 12 efficiencies, 78 one-bedroom, 47 two-bedroom, 30 three-bedroom, and 26 four-bedroom units, catering to various household sizes and needs.
Over the past decade, Avondale's population has shown a slight decline, decreasing from 7,499 in 2013 to 7,223 in 2022. However, the median income has seen a significant increase, rising from $11,829 in 2013 to $28,133 in 2022, which may indicate improving economic conditions for some residents.
The racial composition of Avondale has remained relatively stable, with a predominantly Black population (82% in 2022). There has been a slight increase in diversity, with small growths in Asian (2% in 2022) and Hispanic (5% in 2022) populations. The White population has remained steady at around 8-10% over the past decade.
Despite the increase in median income, the continued development of LIHTC projects (such as Avondale Town Center North in 2019) suggests an ongoing need for affordable housing in the neighborhood. This could indicate that while overall incomes are rising, there remains a significant portion of the population requiring affordable housing options.
Avondale's affordable housing landscape, supported by the LIHTC program, has evolved over three decades, providing a diverse range of housing options for low-income residents. The neighborhood has seen consistent investment in affordable housing, with projects spanning from 1987 to 2019. While the LIHTC funded units cover about 8.1% of the estimated housing inventory, the recent development and the neighborhood's demographic trends suggest a continuing need for affordable housing options. The rising median income, coupled with a stable racial composition and slight population decline, presents a complex picture of Avondale's socio-economic dynamics and ongoing affordable housing requirements.
