Loading Content...
Affordable Housing in Euclid Green: Three Decades of LIHTC Development
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Euclid Green, a neighborhood in Cleveland, Ohio, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory comprises 242 total units, with 116 designated as low-income units. Based on the 2022 population of 10,402 and using the national average household size, there are approximately 3,985 housing units in the neighborhood. The LIHTC funded affordable housing represents about 6.1% of the estimated housing inventory in Euclid Green.
The LIHTC program has made substantial investments in Euclid Green, with project tax credits totaling $1,481,760. This equates to an average federal funding of approximately $6,123 per unit in LIHTC-funded projects. The neighborhood has experienced a consistent commitment to affordable housing over several decades, with the first LIHTC project, Mannering Apts, completed in 1989, and the most recent, Village Green II, finished in 2020. This 31-year span indicates a long-term investment in affordable housing in the area.
The 1990s and 2000s saw notable affordable housing developments, including projects such as Rudwick Apts in 1995 and Village Green Elderly in 2009. The 2020s have begun with the completion of Village Green II, suggesting a continued focus on affordable housing in the neighborhood. The LIHTC-funded housing stock in Euclid Green offers a range of unit types, including 69 one-bedroom units, 135 two-bedroom units, and 12 three-bedroom units, catering to various household sizes and needs.
Euclid Green has experienced demographic changes over the past decade. The population decreased from 11,330 in 2010 to 10,402 in 2022, a decline of approximately 8.2%. Despite this population decrease, the median income has remained relatively stable, fluctuating between $26,271 and $29,765 from 2013 to 2022.
The racial composition of the neighborhood has evolved. The Black population, while still a significant majority, decreased from 89% in 2013 to 80% in 2022. Conversely, the White population increased from 9% to 14% during the same period. This gradual shift in racial demographics coincides with the continued development of LIHTC projects, including the most recent Village Green II in 2020.
Euclid Green's LIHTC-funded affordable housing inventory represents a significant investment in the neighborhood's housing stock. The consistent development of affordable housing projects over three decades demonstrates a long-term commitment to addressing low-income housing needs. While the LIHTC units cover about 6.1% of the estimated housing inventory, this analysis does not account for other affordable housing programs that may be present in the neighborhood. The demographic trends, including a slight population decrease and evolving racial composition, provide context for the ongoing need and development of affordable housing in Euclid Green.
