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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The Fairlane neighborhood in Dayton, Ohio, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory comprises 146 total affordable units, all designated as low-income units. This affordable housing stock represents approximately 8.7% of the estimated 1,687 housing units in the neighborhood, based on the 2022 population and national average household size.
The LIHTC program has invested substantially in Fairlane, with project tax credits totaling $1,286,646. This translates to an average federal funding of about $8,812 per affordable unit. The neighborhood has experienced consistent development of affordable housing over time, with projects completed in 2007, 2015, and 2020. The most recent project, McBride Place, marks over a decade of affordable housing presence in Fairlane.
The 2020s have been the most active period for affordable housing development in Fairlane, with the completion of McBride Place. This project added 64 units to the neighborhood's affordable housing inventory, including 59 one-bedroom and 5 two-bedroom units. The earlier projects, Lyons Place II (2015) and Ohio Avenue (2007), contributed 55 and 27 units respectively, further diversifying the housing options.
The affordable housing inventory in Fairlane is primarily composed of one-bedroom units (108), followed by efficiencies (27) and two-bedroom units (11). This distribution suggests a focus on accommodating smaller households or individuals.
Over the past decade, Fairlane's population has remained relatively stable, fluctuating between 4,400 and 4,900 residents. The median income has shown an upward trend, increasing from $31,444 in 2013 to $40,891 in 2022. This income growth may indicate a changing economic landscape in the neighborhood.
Racial demographics have also shifted slightly. The Black population decreased from 72% in 2013 to 64% in 2022, while the White population increased from 24% to 25% during the same period. The Hispanic population grew from 1% to 6%, suggesting increasing diversity in the neighborhood.
The completion of McBride Place in 2020 coincides with these demographic shifts, potentially responding to changing housing needs in the community. The steady development of LIHTC projects over the years aligns with the neighborhood's evolving demographics and economic conditions.
Fairlane's LIHTC-funded affordable housing inventory plays a significant role in the neighborhood's housing landscape, representing about 8.7% of the estimated housing stock. The consistent development of affordable housing projects over the years, culminating in the 2020 completion of McBride Place, demonstrates an ongoing commitment to addressing affordable housing needs. The predominance of one-bedroom units in the LIHTC inventory suggests a focus on smaller households. As Fairlane's demographics continue to evolve, with rising median incomes and increasing diversity, the LIHTC program remains an important tool in maintaining housing affordability and accessibility in the neighborhood.