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Affordable Housing in Marion, Ohio: LIHTC Impact on a Presidential Hometown
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Marion, Ohio, a city with an industrial heritage, possesses a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 450 units, of which 378 are designated as low-income. This represents approximately 2.66% of the city's estimated 16,886 housing units.
The city has received $815,571 in LIHTC project tax credits for affordable housing. With approximately 6 projects, this equates to an average of $135,928 in federal funding per project, or $1,812 per unit. Marion's share of Ohio's total LIHTC funding is 0.19%, indicating a relatively small portion of the state's affordable housing investments.
Marion's LIHTC funded affordable housing development spans from 1996 to 2016. The initial project, Harding Centre, was completed in 1996, while the most recent, Marion Towers II, was finished in 2016. The 2010s were the most active period, with three projects completed: New Seton Square Marion (2009), Marion Rotary Towers (2011), and Marion Village (2011).
The LIHTC funded housing inventory in Marion comprises various unit types. Of the 450 total units, there are 15 efficiencies, 251 one-bedroom units, 76 two-bedroom units, 42 three-bedroom units, and 21 four-bedroom units. This distribution indicates a focus on smaller households, with over half of the units being one-bedroom apartments.
Marion's population has remained relatively stable over the past decade, fluctuating around 44,000 residents. The median income has increased significantly, rising from $39,027 in 2015 to $50,631 in 2022, a 29.7% increase. This change in median income may affect the demand for affordable housing.
Racial demographics have shown minor changes, with a decrease in the white population from 87% in 2013 to 83% in 2022, and an increase in residents identifying as two or more races from 2% to 5% during the same period. The black and Hispanic populations have remained stable at approximately 7% and 3-4% respectively.
Marion's LIHTC funded affordable housing inventory provides important housing options for low-income residents, despite its modest scale. The city has experienced consistent development of affordable housing projects over two decades, with an emphasis on smaller units. Recent increases in median income and slight shifts in racial demographics may influence future affordable housing needs and development in the city. Ongoing monitoring of these trends will be essential for addressing Marion's evolving affordable housing landscape.
