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Affordable Housing in Forest Ridge-Quail Hollow: A Two-Decade-Old LIHTC Project
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Forest Ridge-Quail Hollow, a neighborhood in Dayton, Ohio, has a population of 8,061 as of 2022. The area contains one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project, Riverside Commons, which provides 80 units, including 8 designated low-income units. Based on the estimated 3,089 housing units in the neighborhood, LIHTC-funded affordable housing comprises approximately 2.59% of the neighborhood's housing inventory.
The LIHTC program has invested $330,258 in tax credits for affordable housing in Forest Ridge-Quail Hollow. This equates to an average federal funding of $4,128 per unit in the LIHTC-funded project. Riverside Commons, completed in 1998, is the only LIHTC project in the neighborhood, indicating that affordable housing has been present in the area for over two decades.
The project consists of 52 two-bedroom units and 28 three-bedroom units, accommodating various household sizes. This composition suggests a focus on housing families and larger households within the affordable housing inventory.
Forest Ridge-Quail Hollow has experienced minor population fluctuations over the past decade, with 8,061 residents in 2022 compared to 8,419 in 2013. The median income has shown an overall upward trend, increasing from $71,475 in 2013 to $84,583 in 2022. This rise in median income may partially explain the absence of additional LIHTC projects in recent years, as the neighborhood's economic profile has shifted.
The neighborhood has maintained a predominantly white population, with a slight decrease from 75% in 2013 to 74% in 2022. The Black population has remained relatively stable, decreasing slightly from 14% to 12% during the same period. The Asian population has seen a modest increase from 4% to 6%, while the Hispanic population has grown from 1% to 2%.
Forest Ridge-Quail Hollow's affordable housing landscape is characterized by a single LIHTC-funded project, Riverside Commons, which has served the community since 1998. While the project provides 80 units, only a small percentage are designated as low-income units. The neighborhood has experienced a gradual increase in median income over the past decade, which may have influenced the lack of additional LIHTC developments. Despite minor shifts in racial demographics, the area has maintained a relatively stable population composition. The existing LIHTC project contributes to the neighborhood's housing diversity, though it represents a small portion of the overall estimated housing inventory.
