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Affordable Housing in Cuyahoga Falls: LIHTC Program's Impact on a Changing City
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Cuyahoga Falls, Ohio, with a population of 63,257 as of 2022, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 112 total units, including 76 low-income units. This represents approximately 0.46% of the city's estimated 24,236 housing units.
The city has received $392,443 in LIHTC project tax credits for affordable housing, averaging $196,221.50 per project and $3,503.96 per unit. Cuyahoga Falls accounts for 0.09% of Ohio's total LIHTC funding. The first LIHTC project, Pleasant Meadows Village, was completed in 2000, and the most recent, Watermark Senior Apts, in 2011, indicating at least 11 years of affordable housing presence in the city.
LIHTC funded housing in Cuyahoga Falls comprises 24 one-bedroom, 32 two-bedroom, and 56 three-bedroom units, accommodating various household sizes.
Cuyahoga Falls has experienced demographic changes over the past decade. The population increased from 61,947 in 2010 to 63,257 in 2022. Median income rose from $55,002 in 2013 to $59,877 in 2022. Racial diversity increased, with the percentage of white residents decreasing from 89% in 2013 to 79% in 2022, while other racial groups saw modest increases.
Despite these demographic shifts, no new LIHTC projects have been initiated since 2011. This may be attributed to various factors, including changes in local housing policies, shifts in funding priorities, or potentially reduced need for additional low-income housing units.
Cuyahoga Falls maintains a small but present LIHTC funded affordable housing inventory, comprising less than 1% of the estimated housing stock. The city received nearly $400,000 in tax credits for these projects, built between 2000 and 2011. The housing units vary in size, accommodating different household compositions. While the city has experienced moderate population growth and increased racial diversity over the past decade, there have been no new LIHTC projects in recent years. This analysis provides an objective view of the LIHTC funded affordable housing landscape in Cuyahoga Falls, acknowledging that other programs may also contribute to the city's overall affordable housing inventory.
