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Affordable Housing in Lebanon, Ohio: A Decade of LIHTC Projects
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Lebanon, Ohio, a city with a population of 30,199 as of 2022, has utilized the Low-Income Housing Tax Credit (LIHTC) program to address affordable housing needs. The program has resulted in 158 low-income units across 4 LIHTC-funded projects, representing approximately 1.37% of the city's estimated 11,570 housing units. Lebanon has received $920,191 in project tax credits through the LIHTC program, averaging $230,048 per project and $5,824 per unit. This funding accounts for 0.22% of Ohio's total LIHTC allocation.
The development of LIHTC-funded affordable housing in Lebanon spans from 1994 to 2004, with the majority of projects completed during the 1990s. The first project, Hunters Run II, was finished in 1994, while the most recent, Lebanon Commons Apartments, was completed in 2004. These projects primarily consist of family-sized units, with at least 2 two-bedroom units and 104 three-bedroom units, indicating a focus on accommodating families with children.
Lebanon's population has experienced moderate growth over the past decade, increasing from 28,193 in 2018 to 30,199 in 2022, representing a 7.1% growth. This population increase may have contributed to the need for affordable housing options. Concurrently, the median income in Lebanon has risen from $83,979 in 2018 to $87,844 in 2022, a 4.6% increase. This upward trend in income could potentially impact the demand for affordable housing.
The racial demographics of Lebanon have remained relatively stable, with the white population consistently comprising around 90-91% of the total. A slight increase in diversity has been observed, with the Asian population growing from 2% to 3% between 2018 and 2022, and the percentage of residents identifying as two or more races increasing from 1% to 2% during the same period.
Lebanon's LIHTC-funded affordable housing inventory, while modest in size, provides an important resource for low-income residents. The four projects, developed primarily in the 1990s and early 2000s, offer 158 units, mostly consisting of family-sized apartments. Although the LIHTC-funded units represent a small percentage of the city's total housing stock, they play a crucial role in addressing affordable housing needs. The city's growing population and rising median income suggest an ongoing need for affordable housing options. As Lebanon continues to evolve demographically, maintaining and potentially expanding its affordable housing inventory may be important considerations for community planners and policymakers.
