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Affordable Housing in Hillsboro, Ohio: A Decade of LIHTC Development
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Hillsboro, Ohio, demonstrates a notable presence of affordable housing funded through the Low-Income Housing Tax Credit (LIHTC) program. The city's LIHTC-funded affordable housing inventory comprises 247 total units, with 211 designated as low-income units. This represents approximately 6.5% of Hillsboro's estimated 3,807 housing units.
Hillsboro has received $433,777 in project tax credits through the LIHTC program, distributed across approximately 5 projects. This equates to an average of $86,755 in federal funding per project and about $1,756 per unit. Hillsboro's share of Ohio's total LIHTC funding stands at 0.1%, indicating a modest yet significant contribution to the state's affordable housing initiatives.
The city's affordable housing development has occurred over more than a decade. The earliest project, Highland Heights Apartments, was completed in 2001, while the most recent, Treewood Apartments, was finished in 2013. The 2010s saw the highest activity in affordable housing construction, with two projects completed: Cedar Woods Apartments in 2010 and Treewood Apartments in 2013.
The LIHTC-funded projects in Hillsboro offer a range of unit types, including 40 one-bedroom units, 147 two-bedroom units, 20 three-bedroom units, and 4 four-bedroom units. This distribution suggests an emphasis on accommodating various household sizes, particularly favoring two-bedroom units.
Hillsboro's population has experienced a slight decline, from 10,358 in 2010 to 9,937 in 2022. Despite this decrease, the median income has risen from $36,784 in 2013 to $45,206 in 2022, indicating an overall improvement in economic conditions. The racial composition of Hillsboro has remained relatively stable, with a predominantly white population (approximately 90-93%) throughout this period.
The completion of Treewood Apartments in 2013 coincides with a period of population fluctuation and the beginning of a steady increase in median income. This suggests that the development of affordable housing may have been a response to changing economic conditions in the city.
Hillsboro's LIHTC-funded affordable housing inventory represents a significant portion of the city's housing stock. The city has maintained a consistent approach to affordable housing development over more than a decade, with projects designed to accommodate various household sizes. While the population has slightly declined, the increase in median income and the stable racial composition suggest that Hillsboro has been proactive in addressing affordable housing needs amid changing economic conditions. The LIHTC program has played a crucial role in supporting these efforts, contributing to the city's housing diversity and accessibility.
