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Affordable Housing in Cleveland's Clark Fulton: LIHTC Impact on a Diverse Neighborhood
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Clark Fulton, a neighborhood in Cleveland, Ohio, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing presence. The neighborhood's LIHTC inventory comprises 82 affordable units, all designated as low-income. Based on the 2022 population of 10,047 and using the national average household size, the estimated housing inventory for Clark Fulton is approximately 3,849 units. The LIHTC funded affordable housing accounts for about 2.13% of the estimated housing units in the neighborhood.
The LIHTC program has invested $81,154 in tax credits for affordable housing projects in Clark Fulton. This equates to an average federal funding of $989.68 per unit. The neighborhood's LIHTC funded affordable housing inventory is represented by a single project, South Pointe Commons, completed in 2008. This project has provided affordable housing options in Clark Fulton for over a decade.
South Pointe Commons offers a mix of unit types, with 78 efficiencies and 4 one-bedroom units. This distribution indicates a focus on accommodating single individuals or small households. The project does not have any specified target population, suggesting it may serve a diverse range of low-income residents.
Clark Fulton has experienced demographic shifts over the past decade. The population has decreased slightly from 10,466 in 2013 to 10,047 in 2022. Despite this decline, the median income has increased from $23,395 in 2013 to $35,164 in 2022. This increase in median income may suggest an improving economic situation for some residents, but affordable housing needs may still persist for a significant portion of the population.
The racial composition of Clark Fulton has remained relatively stable over the past decade. The Hispanic population has been the largest group, consistently representing around 45-51% of the neighborhood's residents. The White population has fluctuated between 32-38%, while the Black population has remained steady at about 13-16%. This diverse demographic makeup underscores the importance of having affordable housing options that can serve various cultural and community needs.
Clark Fulton's LIHTC funded affordable housing inventory, while modest in scale, provides an important housing resource for the neighborhood. The single project, South Pointe Commons, offers 82 low-income units, primarily consisting of efficiencies. While this covers only a small percentage of the estimated housing stock, it represents a significant investment in affordable housing for the area. The neighborhood's demographic trends, including a slight population decrease and increasing median income, coupled with its racial diversity, highlight the ongoing importance of maintaining and potentially expanding affordable housing options to meet the evolving needs of the community.
