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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
North Collinwood, a neighborhood in Cleveland, Ohio, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood has 963 total units in LIHTC funded projects, all of which are designated as low-income units. This inventory plays a crucial role in addressing the community's affordable housing needs.
Based on the 2022 population of 20,354 and using the national average household size, the estimated housing inventory for North Collinwood is approximately 7,798 units. The 963 LIHTC funded affordable units represent about 12.3% of this estimated housing stock, indicating a significant contribution to the neighborhood's affordable housing supply.
The LIHTC projects in North Collinwood have received $1,527,754 in project tax credits. This translates to an average of $1,586 in federal funding per unit, demonstrating a substantial investment in affordable housing for the community.
Affordable housing has been a long-standing feature of North Collinwood, with projects spanning from 1989 to 2008. The first LIHTC project, Othello Property, was completed in 1989, while the most recent, Lakeshore Village, was finished in 2008. This 19-year period showcases a consistent commitment to affordable housing development in the neighborhood.
The 2000s saw the most significant affordable housing development activity, with four out of five projects completed during this decade. Notable projects from this period include Euclid Beach Villa (2003), Erieview Homes I (2004), and Euclid Beach Club Residence (2005).
The LIHTC funded housing in North Collinwood offers a diverse range of unit types. Of the 963 total units, 670 are one-bedroom units, 243 are two-bedroom units, 29 are three-bedroom units, and 15 are four-bedroom units. This distribution caters to various household sizes and needs within the community.
Over the past decade, North Collinwood's population has remained relatively stable, fluctuating between 19,000 and 20,500 residents. The median income has shown some variability, ranging from about $33,000 to $37,600, with the most recent figure at $35,119 in 2022.
Racial demographics have remained fairly consistent, with the Black population comprising the majority at around 62-65% of residents. The White population has slightly decreased from 32% to 30% over the past decade, while there has been a small increase in residents identifying as two or more races or Hispanic.
Despite no new LIHTC projects being built in the last decade, the existing affordable housing stock continues to serve a significant portion of the community. The relatively stable population and modest income levels suggest an ongoing need for affordable housing options in North Collinwood.
North Collinwood's LIHTC funded affordable housing inventory represents a substantial portion of the neighborhood's estimated housing stock. With 963 low-income units developed over nearly two decades, the neighborhood has demonstrated a long-term commitment to providing affordable housing options. The diverse unit types cater to various household sizes, and the significant federal investment underscores the importance of these projects. The existing inventory continues to play a crucial role in meeting the community's affordable housing needs, especially given the neighborhood's stable population and modest income levels.