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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Marion Franklin, a neighborhood in Columbus, Ohio, has a significant history of affordable housing development through the Low-Income Housing Tax Credit (LIHTC) program. The neighborhood's LIHTC-funded affordable housing inventory comprises 391 total units, all designated as low-income units. Based on the estimated 1,844 housing units in the neighborhood, LIHTC-funded affordable housing represents approximately 21.2% of the neighborhood's housing inventory, indicating a substantial presence of affordable housing options.
The LIHTC projects in Marion Franklin have received a total of $3,405,355 in tax credits, translating to an average federal funding of about $8,709 per unit. This demonstrates a significant investment in affordable housing in the area. The affordable housing presence in Marion Franklin spans several decades, with the first LIHTC project completed in 1992 and the most recent in 2020. This 28-year period showcases a long-term commitment to providing affordable housing in the neighborhood.
The 2010s saw the most activity in affordable housing development, with two projects completed during this decade: CMHA East in 2019 and Parsons Place Apartments in 2020. This recent surge in affordable housing development indicates a renewed focus on addressing housing needs in the area. The LIHTC-funded housing stock in Marion Franklin offers a diverse range of unit types, including 67 one-bedroom units, 165 two-bedroom units, 20 three-bedroom units, and 45 four-bedroom units. This variety caters to different household sizes and needs within the community.
Over the past decade, Marion Franklin has experienced some demographic shifts that may have influenced affordable housing development. The population has remained relatively stable, with a slight increase from 4,448 in 2010 to 4,812 in 2022. Median income in the neighborhood has shown significant growth, rising from $35,411 in 2013 to $49,177 in 2022. This increase in median income could potentially indicate a growing need for affordable housing options to maintain economic diversity in the neighborhood.
The racial composition of Marion Franklin has remained predominantly African American, though there has been a slight decrease from 76% in 2013 to 70% in 2022. The white population has seen a small increase from 19% to 23% during the same period. This relative stability in racial demographics suggests that the recent LIHTC projects have been developed in response to ongoing community needs rather than significant demographic shifts.
Marion Franklin's affordable housing landscape, shaped by LIHTC investments, demonstrates a consistent commitment to providing low-income housing options. The neighborhood has seen a recent uptick in affordable housing development, with projects completed in 2019 and 2020. The diverse unit mix caters to various household sizes, and the total LIHTC-funded units represent a significant portion of the estimated housing inventory. While the population has remained relatively stable, the rising median income in the area underscores the ongoing importance of maintaining affordable housing options. The long-term presence of LIHTC projects in Marion Franklin, spanning nearly three decades, reflects a sustained effort to address affordable housing needs in this Columbus neighborhood.