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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Buckeye Shaker, a neighborhood in Cleveland, Ohio, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood contains 272 LIHTC-funded units, all of which are designated as low-income units. This affordable housing inventory plays a crucial role in addressing the community's housing needs.
Based on the 2022 population of 11,476 and using the national average household size, the estimated housing inventory for the neighborhood is approximately 4,397 units. The 272 LIHTC-funded affordable units represent about 6.2% of this estimated housing stock, indicating a substantial contribution to the neighborhood's affordable housing options.
The LIHTC projects in Buckeye Shaker have received $786,270 in project tax credits. This amount translates to an average of $2,891 in federal funding per unit when divided by the total number of LIHTC-funded units. The first LIHTC project in the neighborhood, Ethel-Forest #1, was completed in 1988, while the most recent project with a known completion date is Cleveland NSP Homes I, finished in 2012. This 24-year span demonstrates a long-term commitment to affordable housing in the area.
The 2010s saw the most LIHTC project completions, with two projects finished during this decade: Livingston Park Apts in 2010 and Cleveland NSP Homes I in 2012. The LIHTC-funded housing in Buckeye Shaker offers a diverse range of unit sizes. The inventory includes 5 one-bedroom units, 12 two-bedroom units, 38 three-bedroom units, and 60 four-bedroom units. This distribution suggests a focus on accommodating families of various sizes, with a particular emphasis on larger households.
Over the past decade, Buckeye Shaker has experienced some demographic shifts. The population has decreased slightly from 12,225 in 2013 to 11,476 in 2022. However, the median income has shown a positive trend, rising from $26,691 in 2013 to $35,965 in 2022, indicating some economic improvement in the neighborhood. The racial composition of Buckeye Shaker has remained relatively stable, with a predominantly Black population (around 77% in 2022). This consistency in racial demographics suggests that the LIHTC projects have been serving a primarily African American community throughout the years.
Despite the lack of new LIHTC projects since 2012, the continued presence of these affordable housing units likely plays a crucial role in maintaining housing stability for low-income residents, especially given the rising median income in the area. Buckeye Shaker's LIHTC-funded affordable housing inventory represents a significant portion of the neighborhood's estimated housing stock. The long-term presence of these projects, spanning from 1988 to 2012, demonstrates a sustained commitment to affordable housing in the area. The diverse unit sizes cater to various household needs, with a focus on larger families. While there haven't been new LIHTC projects in recent years, the existing units continue to serve the community amidst slight population decreases and modest income growth. The stable racial demographics suggest that these affordable housing options have consistently supported the neighborhood's predominantly African American population.