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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Bowling Green, Ohio, a city known for its university, has implemented Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The city's LIHTC inventory comprises 194 total units, with 86 designated as low-income units. This represents approximately 1.61% of the city's estimated 12,068 housing units.
Bowling Green has received $815,261 in project tax credits for affordable housing through the LIHTC program. With approximately 4 projects, this equates to an average of $203,815 in federal funding per project, or $4,202 per unit. The city holds 0.19% of Ohio's total LIHTC funding, indicating a modest contribution to the state's affordable housing efforts.
The implementation of LIHTC funded housing in Bowling Green occurred between 1993 and 2008. The initial project, Bowling Green Manor, was completed in 1993, while the most recent addition, Bowling Green Senior Community, was finished in 2008. This 15-year period demonstrates a sustained commitment to affordable housing development in the city.
The 1990s saw the completion of two projects, while the 2000s witnessed the addition of two more, indicating a consistent pace of affordable housing development across these two decades. The LIHTC funded housing in Bowling Green offers a range of unit types, including 24 one-bedroom units, 116 two-bedroom units, and 48 three-bedroom units, accommodating various household sizes and needs.
Over the past decade, Bowling Green's population has remained relatively stable, with minor fluctuations. The median income has shown an upward trend, increasing from $41,702 in 2017 to $46,491 in 2022. This rise in median income may partially explain the absence of new LIHTC projects in recent years, as the overall economic situation of residents may have improved.
Racial demographics have remained largely consistent, with a slight decrease in the white population (from 85% in 2017 to 82% in 2022) and small increases in Hispanic and multi-racial populations. This gradual diversification could potentially influence future affordable housing needs and planning.
Bowling Green's LIHTC funded affordable housing inventory represents a significant investment in providing affordable options for low-income residents. The city's consistent development of LIHTC projects from 1993 to 2008 demonstrates a long-term commitment to affordable housing. The diverse range of unit types suggests an effort to accommodate various household sizes and needs. While no new LIHTC projects have been added in recent years, the city's stable population and increasing median income may indicate evolving housing needs that warrant ongoing assessment and planning for future affordable housing initiatives.