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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Driving Park, a neighborhood in Columbus, Ohio, has a limited inventory of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood currently contains 57 affordable units, all of which are classified as low-income units. Based on the estimated housing inventory of 2,052 units for the neighborhood's 2022 population, LIHTC funded affordable housing constitutes approximately 2.8% of the total housing stock.
The LIHTC program has invested $824,999 in Driving Park's affordable housing projects. This equates to an average federal funding of $14,474 per unit. The neighborhood has experienced LIHTC projects over three decades, with the initial project, Miller, completed in 1990 and the most recent, The Livingston, finished in 2020. This 30-year span indicates a sustained commitment to affordable housing in the area.
The 2020s marked a substantial increase in affordable housing development, with The Livingston project contributing 45 units to the neighborhood's inventory. This single project accounts for 79% of all LIHTC-funded units in Driving Park. The Livingston provides a variety of unit types, including 25 one-bedroom and 2 two-bedroom units, accommodating different household sizes.
Over the past decade, Driving Park has undergone demographic changes. The population decreased from 6,120 in 2014 to 5,357 in 2022, a decline of 12.5%. Despite this population decrease, the median income demonstrated an overall upward trend, increasing from $24,894 in 2014 to $31,132 in 2022, representing a 25% rise.
Racial composition in Driving Park has remained relatively constant, with the Black population consistently representing the majority, although slightly decreasing from 67% in 2014 to 61% in 2022. The White population has remained relatively stable, fluctuating between 24% and 30% during this period. There has been a minor increase in racial diversity, with small increases in Asian, Hispanic, and multiracial populations.
The completion of The Livingston project in 2020 coincided with a period of increasing median income and slight diversification of the neighborhood's racial composition. This may indicate an effort to maintain affordable housing options in an area experiencing economic changes.
Driving Park's LIHTC-funded affordable housing inventory, comprising 2.8% of the estimated total housing stock, has experienced significant growth in recent years. The largest project, The Livingston, was completed in 2020, adding 45 units to the neighborhood's affordable housing options. Over the past decade, the area has experienced a decrease in population but an increase in median income, with relatively stable racial demographics. The recent addition of LIHTC units may help maintain housing affordability in the face of rising incomes in the neighborhood.