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Affordable Housing in Georgian Heights: 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
Georgian Heights, a neighborhood in Columbus, Ohio, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory comprises 288 total units, with 18 designated as low-income units. Based on the 2022 population of 3,312 and the national average household size of 2.61, the estimated number of housing units in the neighborhood is approximately 1,269. LIHTC funded affordable housing represents about 22.7% of the estimated housing inventory, contributing substantially to the area's affordable housing needs.
The LIHTC program has invested $1,301,801 in tax credits for affordable housing projects in Georgian Heights. This equates to an average federal funding of approximately $4,520 per unit across all LIHTC-funded projects in the neighborhood. The first LIHTC project in Georgian Heights, River Pointe Apartments, was completed in 1997, while the most recent project, Ashton Square, was finished in 2002. This indicates that affordable housing has been a component of the neighborhood for over two decades.
The LIHTC-funded housing stock in Georgian Heights offers a range of unit types to accommodate different household sizes. The inventory includes 48 one-bedroom units, 116 two-bedroom units, 104 three-bedroom units, and 20 four-bedroom units. This distribution indicates a focus on accommodating families of various sizes within the affordable housing projects.
Over the past decade, Georgian Heights has experienced demographic shifts. The population has fluctuated, with a general downward trend from 4,771 in 2014 to 3,312 in 2022. Despite this population decrease, the median income has increased from $29,551 in 2014 to $59,815 in 2022, suggesting an overall improvement in economic conditions for residents.
Racial demographics have also changed. The Black population percentage increased from 36% in 2014 to 44% in 2022, while the White population decreased from 37% to 40% during the same period. The Hispanic population decreased from 15% to 4%, and the Asian population remained relatively stable at around 3%.
The absence of new LIHTC projects in the last decade could be attributed to the rising median income, potentially indicating a reduced need for additional affordable housing units. However, other affordable housing programs not captured in this data may also be serving the community's needs.
Georgian Heights demonstrates a substantial commitment to affordable housing through its LIHTC-funded projects, which account for over 22% of the estimated housing inventory. The neighborhood's two LIHTC projects, completed in 1997 and 2002, have provided a diverse range of unit types to serve different household sizes. While there have not been new LIHTC developments in recent years, the existing affordable housing stock continues to play a crucial role in the community. The neighborhood has experienced demographic changes, including population fluctuations and significant income growth, which may influence future affordable housing needs and development patterns in Georgian Heights.
