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Affordable Housing in Oak Hill: Three Decades of LIHTC Development Amidst Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Oak Hill, a neighborhood in Youngstown, Ohio, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing, with 52 total affordable units, all designated as low-income units. This inventory plays a crucial role in addressing the housing needs of the community.
Based on the 2022 population of 746 residents and using the national average household size of 2.61, the estimated housing inventory for Oak Hill is approximately 286 units. The 52 LIHTC-funded affordable units represent about 18.2% of this estimated housing stock, aligning closely with the target percentage of 15-20% for a well-balanced community.
Oak Hill has seen LIHTC-funded affordable housing projects since 1988, indicating over three decades of affordable housing presence in the neighborhood. The earliest projects, Parkwood Apts and Breaden, were both completed in 1988. The most recent project, Youngstown Jubilee Homes III, was completed in 2000, adding 48 units to the affordable housing inventory.
The 1980s and 2000s were the most active decades for affordable housing development in Oak Hill. Youngstown Jubilee Homes III, completed in 2000, is particularly notable as it contributed the majority of the neighborhood's affordable units, including 25 three-bedroom and 23 four-bedroom units. This distribution suggests a focus on accommodating larger families within the affordable housing stock.
Over the past decade, Oak Hill has experienced significant demographic shifts. The population has decreased from 1,192 in 2014 to 746 in 2022, a decline of about 37%. Despite this population decrease, the median income has shown an overall upward trend, rising from $17,185 in 2014 to $31,588 in 2022, representing an increase of approximately 84%.
The racial composition of Oak Hill has also changed notably. While the Black population remains the majority, its proportion has decreased from 83% in 2014 to 64% in 2022. Conversely, the Hispanic population has grown from less than 1% to 15% during the same period. The White population has also seen an increase from 13% to 14%.
These demographic shifts, particularly the decreasing population and increasing median income, may partially explain why no new LIHTC projects have been developed in Oak Hill since 2000. The changing needs of the community and the improving economic conditions could have influenced the focus of affordable housing initiatives.
Oak Hill's LIHTC-funded affordable housing inventory, comprising 52 units, plays a significant role in meeting the neighborhood's housing needs. The existing affordable units account for approximately 18.2% of the estimated housing stock, aligning well with recommended targets for a balanced community. The neighborhood saw affordable housing developments from 1988 to 2000, with a focus on larger units to accommodate families.
Over the past decade, Oak Hill has experienced notable demographic changes, including population decline, increasing median income, and shifts in racial composition. These changes may have influenced the lack of new LIHTC developments since 2000. As the neighborhood continues to evolve, ongoing assessment of housing needs will be crucial to ensure that affordable housing provision remains aligned with community requirements.
