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Affordable Housing in Dayton: LIHTC's Three-Decade Impact on Urban Housing Stock
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Dayton, Ohio, a city with a population of 135,938 as of 2022, has a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city's total LIHTC-funded projects comprise 4,410 units, of which 3,009 are designated as low-income units. This represents approximately 8.5% of Dayton's estimated housing stock of 52,084 units.
The LIHTC program has provided Dayton with $17,739,108 in project tax credits. This funding is distributed across approximately 67 projects, resulting in an average of $264,762 in federal funding per project, or $4,022 per unit. Dayton's share of Ohio's total LIHTC funding is 4.17%, indicating a significant allocation of the state's affordable housing resources to this city.
LIHTC-funded projects in Dayton span over three decades, with the earliest recorded projects dating back to 1988 and the most recent completed in 2020. This long-term commitment to affordable housing is evidenced by projects such as McClure Apartments and Jaycee Towers from 1988, and more recent developments like The Dayton Arcade and Brandt Meadows in 2020.
The 1990s and 2000s were periods of considerable affordable housing development in Dayton. Notable projects from this era include Washington Square (1995), Riverside Commons (1998), and Dayton View Commons (2003).
Dayton's LIHTC-funded projects offer a diverse range of unit types. The 4,410 total units are composed of 76 efficiencies, 1,289 one-bedroom units, 945 two-bedroom units, 380 three-bedroom units, and 381 four-bedroom units. This variety addresses the needs of different household sizes within the low-income population.
Dayton's population has experienced a slight decline over the past decade, decreasing from 141,501 in 2010 to 135,938 in 2022. However, the median income has shown significant growth, increasing from $28,965 in 2013 to $43,780 in 2022. This income growth may indicate evolving housing needs in the city.
Racial demographics in Dayton have remained relatively stable. The Black population has decreased slightly from 42% in 2014 to 36% in 2022, while the White population has increased from 50% in 2014 to 52% in 2022. The Hispanic population has seen a minor increase from 3% to 4% during this period.
Dayton's LIHTC-funded affordable housing inventory represents a substantial investment in addressing low-income housing needs. With 8.5% of the estimated housing stock dedicated to affordable units, the city has made progress towards meeting the target of 15-20% affordable housing. The diverse range of unit types and the consistent development of new projects over three decades demonstrate a sustained commitment to affordable housing. The slightly decreasing population, rising median incomes, and stable racial demographics suggest a changing landscape that may influence future affordable housing needs in Dayton.
