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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Oxford, Ohio, home to Miami University, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 170 units. This inventory comprises approximately 1.89% of the estimated 9,017 housing units in the city, based on 2022 population data and national average household size. The city has received $296,916 in project tax credits from the LIHTC program for affordable housing. With three projects, this equates to an average federal funding of $98,972 per project and $1,747 per unit. Oxford holds 0.07% of the total state funding for LIHTC projects in Ohio.
The initial LIHTC projects in Oxford, Parkview Arms I and Parkview Arms II, were completed in 1989. The most recent project, Indian Trace Apartments, was finished in 1998. This indicates that affordable housing has been present in the city for over three decades. The 1980s saw the highest number of affordable housing project completions in Oxford. The LIHTC funded projects in Oxford include a variety of unit types, with at least 7 two-bedroom units and 14 three-bedroom units in the inventory.
Oxford's population has remained relatively stable over the last decade, with a slight decrease from 23,613 in 2010 to 23,534 in 2022. The median income has increased from $35,740 in 2013 to $42,797 in 2022. This rise in median income may partially explain the absence of new LIHTC projects in recent years. Racial demographics have shifted slightly, with the white population decreasing from 86% in 2013 to 77% in 2022. The Asian population increased from 5% to 9%, and the Black population rose from 4% to 5% during the same period. The Hispanic population has remained steady at approximately 3%.
Oxford's LIHTC funded affordable housing inventory consists of 170 low-income units across three projects, covering approximately 1.89% of the estimated housing stock. The city has received nearly $300,000 in tax credits for these projects, which were all completed between 1989 and 1998. While the population has remained relatively stable over the past decade, there has been an increase in median income and slight changes in racial demographics. These factors may have influenced the lack of new LIHTC developments in recent years.