Loading Content...
Affordable Housing in Kent, Ohio: Two Decades of LIHTC Development
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Kent, Ohio, a city known for Kent State University, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 448 total units, with 140 designated as low-income units. This represents approximately 3.5% of the city's estimated 12,776 housing units. Kent has received $2,920,922 in project tax credits through the LIHTC program, averaging $730,230 per project and $6,520 per unit across 4 projects. The city holds 0.69% of Ohio's total LIHTC funding.
The LIHTC-funded affordable housing in Kent spans from 1995 to 2016, with Silver Meadows being the first project and Maple Brook At Golden Pond II the most recent. This 21-year period demonstrates a sustained commitment to affordable housing development. The 2010s saw the most activity, with two projects completed during this decade: Four Seasons At Golden Pond in 2014 and Maple Brook At Golden Pond II in 2016.
The housing unit distribution shows 316 two-bedroom units, 62 three-bedroom units, and 7 one-bedroom units. This distribution suggests a focus on accommodating small to medium-sized families.
Kent's population has remained relatively stable over the past decade, fluctuating between 33,000 and 35,000 residents. The median income has increased from $40,675 in 2013 to $48,099 in 2022, indicating modest economic growth. The racial composition has remained predominantly white (around 80-82%), with slight increases in diversity, particularly in the Hispanic and two or more races categories.
The completion of two LIHTC projects in 2014 and 2016 aligns with a period of relative population stability and incremental income growth, suggesting a response to ongoing affordable housing needs in the community.
Kent's LIHTC-funded affordable housing represents a small but significant portion of the city's housing stock. The city has maintained a steady approach to affordable housing development over two decades, with increased activity in recent years. The focus on two and three-bedroom units indicates an emphasis on family-oriented housing. While the LIHTC projects contribute to the city's affordable housing needs, they represent only a fraction of the estimated housing inventory, suggesting that additional affordable housing initiatives may be necessary to fully address the community's needs.
