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Affordable Housing in Cleveland's University District: 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 University District neighborhood in Cleveland, Ohio, maintains a notable Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. This area contains 194 units across three LIHTC-funded projects, with 193 units designated as low-income. Given the estimated 4,513 housing units in the neighborhood, LIHTC-funded affordable housing comprises approximately 4.3% of the total housing stock.
The LIHTC program has allocated $1,399,270 in tax credits for affordable housing projects in the University District. This equates to an average federal funding of $7,213 per unit. The neighborhood's affordable housing development occurred between 2013 and 2017, with New Circle Vistas completed in 2013, followed by Abington Arms and Hough Heritage in 2017.
The year 2017 marked the peak of affordable housing activity, with two projects completed. This indicates a recent increase in affordable housing development within the neighborhood. The inventory primarily consists of one-bedroom units (166) and two-bedroom units (22), suggesting a focus on housing for smaller households or individuals.
The University District has experienced demographic changes over the last decade. The population has remained relatively stable, with 11,780 residents in 2022 compared to 11,783 in 2010. However, the median income has increased significantly, rising from $30,153 in 2013 to $35,961 in 2022, representing a 19.3% growth.
Racial demographics have also shifted. The white population decreased from 57% in 2019 to 48% in 2022, while the Black population increased from 17% to 24% during the same period. The Asian population has remained relatively stable at around 16-18% since 2018.
The completion of two LIHTC projects in 2017 coincides with a period of increasing median income and changing racial demographics. This suggests that the affordable housing developments may have been a response to evolving neighborhood dynamics and the need to maintain economic diversity.
The University District's LIHTC-funded affordable housing inventory, while modest in size, represents a significant investment in maintaining affordability within a changing urban landscape. The concentration of recent developments in 2017 indicates a responsive approach to evolving neighborhood needs. The predominance of one-bedroom units aligns with the area's demographics, potentially catering to students or young professionals in this university-adjacent neighborhood. As the area continues to experience demographic shifts and rising incomes, the presence of these affordable housing options may play a crucial role in maintaining socioeconomic diversity and housing accessibility in the University District.
