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Affordable Housing in Mt. Auburn: LIHTC's Impact on Neighborhood Dynamics
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Mt. Auburn, a neighborhood in Cincinnati, Ohio, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory consists of 269 total units, with 233 designated as low-income units. Based on the 2022 population of 5,046 and using the national average household size of 2.61, the estimated housing inventory for Mt. Auburn is approximately 1,933 units. The LIHTC funded affordable housing covers about 13.9% of the neighborhood's estimated housing stock, which is close to the target percentage for a well-balanced community.
The LIHTC projects in Mt. Auburn have received $2,030,043 in tax credits, averaging about $7,546 per unit in federal funding. The neighborhood has a long history of affordable housing development, with the first LIHTC projects, Albion Apts and Bigelow Apts, completed in 1988. The most recent project, Anna Louise Inn, was completed in 2015, indicating over 27 years of affordable housing presence in Mt. Auburn.
The 1990s saw the most affordable housing activity, with three projects completed during this decade: Freedom Apts (1993), Inwood Place (1994), and Cutter Apts (1999). The 2000s also saw significant development with three projects: Sycamore Hill Apts (2003), Baymiller Estates (2006), and Pendleton Estates (2006).
Mt. Auburn's LIHTC inventory includes a diverse range of unit types. Out of the 269 total units, there are 49 efficiencies, 78 one-bedroom units, 43 two-bedroom units, 37 three-bedroom units, and 15 four-bedroom units. This distribution caters to various household sizes and needs within the community.
Over the last decade, Mt. Auburn has experienced some demographic shifts. The population has slightly decreased from 5,168 in 2013 to 5,046 in 2022. However, the median income has seen a significant increase from $28,509 in 2013 to $44,166 in 2022, indicating improving economic conditions for residents.
Racial demographics have also changed. The Black population decreased from 60% in 2013 to 42% in 2022, while the White population increased from 32% to 41%. There was also a notable increase in the Asian population, from 1% to 8% during this period.
Despite these demographic changes, no new LIHTC projects have been completed since 2015. This could be due to the rising median income and changing racial composition, potentially indicating a shift in housing needs or priorities within the neighborhood.
Mt. Auburn's LIHTC funded affordable housing inventory plays a significant role in the neighborhood's housing landscape, covering nearly 14% of the estimated housing stock. The neighborhood has a diverse range of affordable units, developed over almost three decades. While demographic shifts have occurred in recent years, including rising median income and changes in racial composition, the existing LIHTC inventory continues to provide important affordable housing options for the community. The lack of new LIHTC projects since 2015 may reflect changing neighborhood dynamics and housing needs, but further analysis would be needed to fully understand this trend.
