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Affordable Housing in Franklinton: LIHTC Impact and Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Franklinton, a neighborhood in Columbus, Ohio, has a presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area contains 96 total units in LIHTC-funded projects, all designated as low-income units. Based on the 2022 population of 7,866 and using the national average household size, approximately 3,014 housing units are estimated in the neighborhood. The LIHTC-funded affordable housing covers about 3.2% of the estimated housing inventory in Franklinton.
The LIHTC program has invested $529,958 in tax credits for affordable housing projects in Franklinton. This translates to an average of $5,520 in federal funding per unit. The neighborhood has experienced consistent development of affordable housing over several decades. The earliest LIHTC project, Dana Apts (Columbus), was completed in 1990, while the most recent, Franklin Station, was finished in 2014. This indicates a 24-year span of affordable housing development in the area.
The 2010s saw the most significant affordable housing development in Franklinton, with four projects completed during this decade: City View Homes and Worley Terrace in 2008, Boulevard Homes and Franklinton Senior in 2011, and Franklin Station in 2014.
The affordable housing inventory in Franklinton includes a mix of unit types. The neighborhood offers 10 one-bedroom units, 45 two-bedroom units, 6 three-bedroom units, and 6 four-bedroom units. This distribution suggests a focus on accommodating various family sizes, with a particular emphasis on two-bedroom apartments.
Over the past decade, Franklinton has experienced fluctuations in its population. The neighborhood saw a decline from 8,099 residents in 2020 to 7,866 in 2022. Median income has also varied, rising from $23,276 in 2020 to $28,971 in 2021, before decreasing to $22,579 in 2022. These income levels indicate a continued need for affordable housing options in the area.
Racial demographics have shown shifts in recent years. The white population decreased from 66% in 2019 to 56% in 2022, while the Hispanic population increased from 6% to 13% during the same period. The Black population has remained relatively stable, accounting for 21% of residents in 2022. These demographic changes may influence future affordable housing needs and development strategies.
Franklinton's affordable housing landscape, supported by the LIHTC program, has evolved over more than two decades. While the current LIHTC-funded units represent a small portion of the estimated housing inventory, they provide affordable options for low-income residents. The neighborhood has seen consistent development of affordable housing projects, particularly in the 2010s, with a mix of unit sizes to accommodate diverse household needs. Recent demographic shifts, including changes in population, income levels, and racial composition, may impact future affordable housing requirements in Franklinton.
