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Affordable Housing in Mount Healthy, Ohio: LIHTC's Impact on a Small City
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Mount Healthy, a city in Ohio, possesses a LIHTC-funded affordable housing inventory of 36 units, all designated as low-income units. This accounts for approximately 1.3% of the city's estimated housing stock of 2,773 units. The city has received $645,480 in project tax credits through the LIHTC program, distributed across approximately two projects, averaging $322,740 per project. The average federal funding per unit is $17,930, and Mount Healthy holds 0.15% of the total state LIHTC funding.
The Cary Crossing project, completed in 2016, constitutes the entirety of Mount Healthy's LIHTC-funded units. This project comprises 34 one-bedroom units and 2 two-bedroom units, representing a significant addition to the city's affordable housing stock.
Mount Healthy's population has experienced fluctuations over the past decade, with a slight overall decrease from 7,448 in 2010 to 7,237 in 2022. The median income has shown an upward trend, increasing from $31,504 in 2013 to $39,393 in 2022. Racial demographics have shifted, with the Black population percentage rising from 37% in 2013 to 45% in 2022, while the White population decreased from 56% to 49% during the same period. The Asian population remained relatively stable, fluctuating between 1% and 4% over the decade.
The completion of the Cary Crossing project in 2016 coincides with a period of relative population stability and increasing median income in the city. This suggests that the project may have been implemented in response to growing affordable housing needs during a time of economic improvement for some residents.
Mount Healthy's LIHTC-funded affordable housing inventory provides 36 low-income units to the community. The Cary Crossing project represents the city's primary LIHTC investment. While the affordable housing stock covers only a small percentage of the estimated housing inventory, other affordable housing programs may contribute to meeting the city's needs. The demographic trends over the past decade, including population fluctuations, increasing median income, and shifts in racial composition, provide context for the city's affordable housing landscape.
