Loading Content...
Affordable Housing in La Grange: Three Decades of LIHTC Investment Amidst Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
La Grange, a neighborhood in Toledo, Ohio, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory consists of 109 affordable units, all of which are designated as low-income units. Based on the estimated housing inventory of 5,369 units for the neighborhood's 2022 population, the LIHTC funded affordable housing covers approximately 2.03% of the neighborhood's housing stock.
The LIHTC program has invested substantially in La Grange, with project tax credits totaling $886,631. This translates to an average federal funding of $8,134 per unit across the LIHTC-funded projects in the neighborhood. Affordable housing has been a longstanding feature of La Grange, with the earliest LIHTC projects, Kelly Apts and Cherry Street Manor, completed in 1989. The most recent addition to the affordable housing inventory is St. Hedwig Senior Housing, completed in 2019, indicating a 30-year span of LIHTC investment in the area.
The 1980s saw the most LIHTC activity, with three projects completed during that decade. The neighborhood's LIHTC inventory includes a diverse mix of unit types, featuring 3 one-bedroom units, 8 two-bedroom units, and 48 four-bedroom units, catering to various household sizes and needs.
Over the past decade, La Grange has experienced demographic shifts. The population has decreased from 14,386 in 2014 to 14,012 in 2022. The median income has shown an overall upward trend, rising from $24,160 in 2014 to $27,272 in 2022, with fluctuations in between.
Racial demographics have evolved. The Black population has remained the largest group, though its percentage decreased from 61% in 2018 to 55% in 2022. The White population increased from 24% to 28% during the same period. The Hispanic population has remained stable at around 7-8%, while the Asian and multiracial populations have shown slight increases.
The completion of St. Hedwig Senior Housing in 2019 aligns with the neighborhood's demographic trends, potentially addressing the needs of an aging population within the community.
La Grange's LIHTC-funded affordable housing inventory represents a small but significant portion of its estimated housing stock. The neighborhood has benefited from LIHTC investment over three decades, with projects catering to various household sizes. While the population has decreased, median income has generally trended upward. The racial composition has seen shifts, with a decrease in the Black population and increases in White and multiracial populations. These demographic changes may influence future affordable housing needs and development in the neighborhood.
