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Affordable Housing in Kinsman: LIHTC's Substantial Impact on Cleveland Neighborhood
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Kinsman, a neighborhood in Cleveland, Ohio, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood contains 954 total affordable units, all of which are designated as low-income units. This LIHTC-funded housing inventory is crucial in addressing the community's affordable housing needs.
Based on the estimated 1,307 housing units in the neighborhood, LIHTC-funded affordable housing comprises approximately 73% of Kinsman's housing inventory. This high percentage indicates that LIHTC-funded projects form a substantial portion of the neighborhood's housing stock.
The LIHTC program has invested $5,208,153 in project tax credits for affordable housing in Kinsman. This investment translates to an average federal funding of about $5,459 per unit. The significant investment underscores the importance of the LIHTC program in creating affordable housing opportunities in the neighborhood.
The first LIHTC project in Kinsman, Buckeye Homes I, was completed in 1996, while the most recent project, Legacy At St. Luke's, was finished in 2020. This 24-year span demonstrates a sustained commitment to developing affordable housing in the neighborhood. The 2010s saw the most LIHTC project completions in Kinsman. Notable projects from this decade include Garden Valley Phase I, II, and III (completed in 2010 and 2011), New Community Place (2015), and Heritage View Homes IV (2016).
Kinsman's LIHTC-funded housing stock primarily consists of two-bedroom (514 units) and three-bedroom units (329 units), with smaller numbers of one-bedroom (22 units) and four-bedroom units (35 units). This distribution suggests a focus on accommodating families of various sizes within the neighborhood.
Over the past decade, Kinsman has experienced a decline in population, from 3,800 in 2013 to 3,410 in 2022. Despite this decrease, the median income has shown a modest increase from $11,637 in 2013 to $13,188 in 2022. The neighborhood has consistently maintained a predominantly Black population, with the percentage increasing slightly from 89% in 2013 to 99% in 2022.
The continued development of LIHTC projects during this period, despite the population decline, suggests an ongoing need for affordable housing in Kinsman. The slight increase in median income, while still relatively low, may indicate a persistent demand for affordable housing options in the neighborhood.
Kinsman's affordable housing landscape is significantly shaped by LIHTC-funded projects, which account for a large portion of the neighborhood's estimated housing inventory. The sustained development of LIHTC projects over more than two decades reflects a long-term commitment to addressing affordable housing needs in the area. The housing stock primarily caters to families, with a mix of unit sizes. Despite a declining population, the continued investment in affordable housing through the LIHTC program suggests an ongoing effort to meet the community's housing needs, particularly given the area's low median income and predominantly Black population.
