Loading Content...
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Historic West Loveland, a neighborhood in Loveland, Ohio, contains Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory comprises 85 total affordable units, all designated as low-income units. Based on the 2022 population of 1,299 and using the national average household size, the estimated housing inventory for the neighborhood is approximately 498 units. The LIHTC funded affordable housing accounts for about 17.1% of the estimated housing units in the neighborhood, aligning with the target percentage for a well-balanced community.
The neighborhood has two LIHTC funded projects: Mac Arthur Park Apartments and Macarthur Park Apartments. Mac Arthur Park Apartments, completed in 2008, provides 85 low-income units, including 8 one-bedroom, 34 two-bedroom, and 43 three-bedroom units. This mix of unit sizes can accommodate various household compositions, from individuals to larger families.
The completion of Mac Arthur Park Apartments in 2008 marks the beginning of LIHTC funded affordable housing in Historic West Loveland, indicating at least 14 years of affordable housing presence in the neighborhood.
Over the past decade, Historic West Loveland has experienced demographic shifts. The population has fluctuated, increasing from 1,170 in 2017 to 1,488 in 2019, then declining to 1,299 in 2022. Median income has shown an overall upward trend, rising from $42,555 in 2017 to $72,334 in 2022, with a peak of $101,106 in 2021.
Racial demographics have also changed. The white population decreased from 92% in 2013 to 81% in 2022. Diversity has increased, with the Asian population growing from 0% in 2013 to 2% in 2022, and the Hispanic population increasing from 2% to 11% in the same period. The black population has remained relatively stable, ranging between 3-6% over the decade.
These demographic changes, particularly the increase in median income and growing diversity, may influence the ongoing need for affordable housing in the neighborhood. The stable presence of LIHTC units since 2008 continues to provide housing options for lower-income residents amidst these demographic shifts.
Historic West Loveland's LIHTC funded affordable housing inventory, primarily through Mac Arthur Park Apartments, contributes significantly to the neighborhood's housing diversity. With 85 low-income units, it covers about 17.1% of the estimated housing stock, aligning with affordable housing targets. The neighborhood has experienced demographic changes over the past decade, including population fluctuations, increased median income, and growing racial diversity. These LIHTC units continue to play a crucial role in maintaining affordable housing options within this evolving community context.