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Affordable Housing in Marietta, Ohio: LIHTC Funded Inventory Analysis
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Marietta, Ohio, a historic city along the Ohio River, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 176 total units, with 77 designated as low-income units. Based on the city's 2022 population of 17,957 and using the national average household size, there are an estimated 6,880 housing units in Marietta. The LIHTC funded affordable housing comprises approximately 2.6% of the estimated housing inventory in the city.
Marietta has received $657,182 in project tax credits through the LIHTC program. With 5 projects, this averages to about $131,436 per project. Divided by the total units, this equates to roughly $3,734 in federal funding per unit. Marietta holds 0.15% of Ohio's total LIHTC funding.
The first LIHTC project in Marietta, Garfield Avenue, was completed in 1989. The most recent project, Norwood Greene, was finished in 2008, indicating nearly two decades of affordable housing development in the city. The 2000s saw the most activity, with three projects completed during this decade: Winberi Place (1999), Ridgewood Court Apts (2006), and Norwood Greene (2008).
The LIHTC funded projects in Marietta provide a mix of unit types, with 57 one-bedroom, 63 two-bedroom, and 27 three-bedroom units. This distribution suggests a focus on accommodating small to medium-sized households.
Over the past decade, Marietta's population has decreased from 19,151 in 2017 to 17,957 in 2022. The median income has increased from $38,871 in 2017 to $41,149 in 2022, indicating some economic growth. The racial composition of the city has remained relatively stable, with the white population consistently representing about 93% of residents.
Marietta's LIHTC funded affordable housing inventory represents a small but significant portion of the city's estimated housing stock. The city has seen steady development of affordable housing projects from 1989 to 2008, with a focus on one and two-bedroom units. While the population has slightly decreased in recent years, median income has risen, potentially affecting the demand for affordable housing. The consistent racial composition suggests that affordable housing needs may be relatively stable across demographic groups.
