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Affordable Housing in Cleveland's Corlett Neighborhood: LIHTC Impact and Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The Corlett neighborhood in Cleveland, Ohio, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. With 197 total units, all designated as low-income units, this neighborhood demonstrates a commitment to providing affordable housing options for its residents. Based on the 2022 population of 10,496 and an estimated 4,021 housing units, the LIHTC funded affordable housing covers approximately 4.9% of the neighborhood's estimated housing inventory.
The LIHTC program has invested $994,290 in tax credits for affordable housing projects in Corlett. This translates to an average federal funding of $5,047 per unit. The neighborhood has seen a long-term commitment to affordable housing, with the first LIHTC project, Tigie, completed in 1988, and the most recent, Miles Pointe, finished in 2013. This 25-year span demonstrates ongoing efforts to maintain and expand affordable housing options in the area.
The 1980s saw the most affordable housing activity, with three projects completed during that decade: Tigie, Chn V (both in 1988), and Miles Project (1990). The inventory includes a mix of unit sizes, with 68 two-bedroom units, 73 three-bedroom units, and 37 four-bedroom units, catering to various family sizes and needs.
Over the past decade, Corlett has experienced a significant population decline, dropping from 13,615 in 2013 to 10,496 in 2022. Despite this decrease, the median income has shown an overall upward trend, rising from $23,661 in 2013 to $27,306 in 2022, with some fluctuations in between.
The racial composition of the neighborhood has remained predominantly African American, though there has been a slight decrease from 97% in 2013 to 91% in 2022. During this period, there has been a small increase in diversity, with slight growth in Hispanic, white, and multi-racial populations.
The most recent LIHTC project, Miles Pointe, was completed in 2013, coinciding with the beginning of the observed demographic trends. The lack of new LIHTC projects since then could be related to the decreasing population and increasing median income, which may have altered the perceived need for additional affordable housing in the area.
The Corlett neighborhood in Cleveland has an established foundation of LIHTC funded affordable housing, with projects spanning from 1988 to 2013. While the 197 low-income units represent a small percentage of the estimated housing inventory, they provide important affordable options for residents. The neighborhood has experienced population decline and modest income growth over the past decade, alongside slight changes in racial composition. These demographic shifts may have influenced the lack of new LIHTC projects since 2013, though the existing affordable housing continues to serve the community's needs.
