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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Bellevue, Ohio, with a population of 11,677 as of 2022, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 100 units. These units, all designated as low-income, represent approximately 2.23% of the city's estimated 4,474 housing units. The city has received $361,818 in project tax credits from the LIHTC program, distributed across approximately 3 projects. This equates to an average federal funding of $120,606 per project and $3,618 per unit, accounting for 0.09% of the total state LIHTC funding.
Bellevue's affordable housing presence spans from 1989 to 2015, with Sir Frederick Apts being the first project and Nickel Plate Plaza the most recent. This 26-year history of LIHTC-funded affordable housing began in the 1980s, with the latest development occurring in the 2010s. The LIHTC-funded housing inventory in Bellevue includes 16 one-bedroom units and 32 two-bedroom units, with the remaining units' configurations unspecified in the available data.
Bellevue's population has slightly declined over the past decade, from 11,993 in 2014 to 11,677 in 2022. However, the median income has increased from $54,214 in 2014 to $59,536 in 2022, indicating a moderate improvement in economic conditions. Racial demographics have remained relatively stable, with a slight decrease in the white population from 96% in 2014 to 90% in 2022, and a small increase in Hispanic representation from 2% to 6% during the same period. The city has also experienced a slight increase in racial diversity, with small percentages of Black residents and those of two or more races emerging in recent years.
The completion of Nickel Plate Plaza, the most recent LIHTC project, in 2015 coincided with a period of population decline and increasing median income. This suggests that despite the overall population decrease, there was still a recognized need for affordable housing in the community.
Bellevue's LIHTC-funded affordable housing inventory represents a small but significant portion of the city's housing stock. The city has maintained a consistent presence of affordable housing projects over nearly three decades, with the most recent development occurring in 2015. While the population has slightly decreased in recent years, the median income has increased, and there has been a modest shift towards greater racial diversity. These demographic changes may influence future affordable housing needs and development in Bellevue.