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Affordable Housing in Columbus, Indiana: A Three-Decade LIHTC Journey
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Columbus, Indiana, a city renowned for its modernist architecture, has a notable Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city's affordable housing stock comprises 868 total units, with 600 designated as low-income units. Based on the estimated housing inventory of 22,785 units, LIHTC-funded affordable housing represents approximately 3.8% of the city's housing stock.
Columbus has received $2,763,637 in project tax credits through the LIHTC program. With approximately 12 projects, this translates to an average of $230,303 in federal funding per project, or $3,184 per unit. The city holds 0.64% of Indiana's total state LIHTC funding, indicating a modest but notable share of the state's affordable housing resources.
The first LIHTC project in Columbus, Heritage Woods Phase II, was completed in 1990, while the most recent project, Gladstone Apartments, was finished in 2020. This 30-year span demonstrates a long-term commitment to affordable housing in the city. The 1990s saw the most affordable housing development, with five projects completed during that decade.
The LIHTC-funded housing inventory in Columbus offers a diverse range of unit types. The breakdown includes 4 efficiencies, 117 one-bedroom units, 324 two-bedroom units, 125 three-bedroom units, and 42 four-bedroom units. This distribution suggests a focus on accommodating various family sizes and living arrangements.
Over the past decade, Columbus has experienced steady population growth, increasing from 54,032 in 2013 to 59,468 in 2022. The median income has also risen, from $66,267 in 2013 to $73,114 in 2022, indicating overall economic improvement. However, this growth may have increased the need for affordable housing options.
The racial composition of Columbus has become more diverse over the same period. The percentage of white residents decreased from 85% in 2013 to 76% in 2022, while the Asian population increased from 5% to 11%, and the Hispanic population grew from 5% to 8%. This demographic shift may influence the demand for diverse housing options, including affordable housing.
Columbus, Indiana has maintained a consistent commitment to affordable housing through the LIHTC program over the past three decades. The city's 868 LIHTC-funded units, including 600 low-income units, contribute to addressing the housing needs of its growing and diversifying population. While the current LIHTC inventory covers a small percentage of the city's estimated housing stock, it represents a significant investment in affordable housing. The city's changing demographics and rising median income suggest an ongoing need for affordable housing options to ensure inclusive growth and development.
