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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Hilltop 2, a neighborhood in Columbus, Ohio, features a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory comprises 116 total units, with 100 designated as low-income units. Based on the 2022 population of 1,418 and using the national average household size, the estimated housing inventory for Hilltop 2 is approximately 543 units. The LIHTC funded affordable housing represents about 21.4% of the neighborhood's estimated housing inventory, aligning with the target percentage for affordable housing stock in a balanced community.
The LIHTC projects in Hilltop 2 have received $752,201 in project tax credits, averaging approximately $6,484 per unit across all LIHTC-funded projects in the neighborhood. Affordable housing has been present in Hilltop 2 for over two decades, with the first LIHTC project, Hilltop Senior Village, completed in 2001, and the most recent project, Inglewood Court, finished in 2013. This 12-year span indicates a consistent commitment to affordable housing in the neighborhood.
The 2000s witnessed the most affordable housing development activity in Hilltop 2, with two projects completed during this decade: Hilltop Senior Village (2001) and Hilltop II Senior Housing (2004). The LIHTC-funded housing inventory in Hilltop 2 consists primarily of one-bedroom and two-bedroom units, with 50 one-bedroom units and 66 two-bedroom units. This distribution suggests a focus on accommodating smaller households and potentially senior residents, given the names of two of the projects.
Over the past decade, Hilltop 2's population has fluctuated, with a general downward trend from 1,722 in 2015 to 1,418 in 2022. Despite this population decrease, the median income has shown an overall increase, rising from $25,520 in 2015 to $28,838 in 2022. This trend may indicate a gradual economic improvement in the neighborhood.
The racial composition of Hilltop 2 has also experienced shifts. The percentage of Black residents decreased from 45% in 2015 to 35% in 2020 but increased again to 49% in 2022. Conversely, the white population increased from 39% in 2015 to 53% in 2020 but decreased to 42% in 2022. These fluctuations suggest ongoing demographic changes in the neighborhood.
The most recent LIHTC project in Hilltop 2 was completed in 2013. The subsequent years have seen both increases and decreases in median income, which may have influenced the perceived need for additional affordable housing projects.
Hilltop 2 demonstrates a significant commitment to affordable housing through its LIHTC-funded projects. The neighborhood's affordable housing inventory, covering about 21.4% of the estimated housing stock, aligns well with recommended targets for balanced communities. The focus on one-bedroom and two-bedroom units suggests an emphasis on accommodating smaller households and potentially seniors. Over the past decade, the neighborhood has experienced fluctuations in population and racial composition, along with a general trend of increasing median income. These demographic shifts may have influenced the pace of affordable housing development in recent years.