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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
North River, a neighborhood in Toledo, Ohio, has a substantial presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area contains 935 total units in LIHTC-funded projects, with 927 designated as low-income units. Based on the 2022 population of 7,642 and using the national average household size of 2.61, there are approximately 2,928 housing units in the neighborhood. The LIHTC-funded affordable housing comprises about 31.9% of the estimated housing inventory, indicating a significant contribution to the neighborhood's affordable housing needs.
The LIHTC program has invested $1,549,628 in project tax credits in North River, averaging about $1,657 per unit in federal funding. Affordable housing has been a long-term feature of this neighborhood, with the earliest LIHTC project, Mulberry, completed in 1988, and the most recent known completion, Covenant House Apartments, in 2009. This spans over two decades of affordable housing development in the area.
The 2000s witnessed the most significant affordable housing development activity, with projects such as Greenbelt Apartments, Ontario Place Homes, Cherrywood Apartments, Pontiac Place Homes, Vistula Heritage Village II, and Madonna Homes all completed during this decade.
The neighborhood's LIHTC-funded housing stock is diverse, offering a range of unit sizes to accommodate various household needs. It includes 150 efficiencies, 291 one-bedroom units, 150 two-bedroom units, 71 three-bedroom units, and 61 four-bedroom units. This distribution indicates a focus on smaller households, with over half of the units being efficiencies or one-bedrooms.
Over the past decade, North River's population has remained relatively stable, fluctuating between 7,600 and 8,400 residents. The median income has shown a general upward trend, increasing from $15,790 in 2014 to $20,210 in 2022, suggesting a gradual economic improvement in the area.
Racial demographics have shifted slightly, with the Black population increasing from 40% in 2014 to 48% in 2022, while the White population decreased from 41% to 37% over the same period. The Hispanic population has remained relatively stable, ranging from 10% to 16% throughout the decade.
The relatively stable population and gradual income increase, combined with the significant presence of LIHTC-funded housing, suggest that these affordable housing projects continue to play a crucial role in meeting the needs of the neighborhood's residents.
North River demonstrates a substantial commitment to affordable housing through its LIHTC-funded projects. With nearly one-third of its estimated housing inventory dedicated to affordable units, the neighborhood appears to be addressing the housing needs of its lower-income residents. The diverse unit sizes available cater to various household compositions, while the long-standing presence of affordable housing since the late 1980s indicates a sustained effort to maintain affordable options in the area. As the neighborhood continues to experience demographic shifts and modest income growth, the existing LIHTC-funded housing stock remains a vital component of North River's housing landscape.