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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Springboro, a city in Ohio, has a total of 244 LIHTC-funded affordable housing units, with 136 designated as low-income units. Based on the 2022 population of 26,134 and an estimated 10,013 housing units, LIHTC-funded affordable housing comprises approximately 2.44% of the city's estimated housing inventory.
Springboro has received $1,763,421 in project tax credits from the LIHTC program. With approximately 3 projects, this translates to an average of $587,807 in federal funding per project. The average federal funding per unit is $7,227, considering the 244 total units in LIHTC-funded projects. Springboro holds 0.41% of Ohio's total LIHTC funding, indicating a relatively small share of the state's affordable housing resources.
The city's LIHTC-funded affordable housing history spans from 1994 to 2019. The first project, Meadow View Apts, was completed in 1994, while the most recent, Sanctuary At Springboro, was finished in 2019. This 25-year period demonstrates a sustained commitment to affordable housing development in Springboro. The 1990s saw the most affordable housing projects completed, with two out of the three projects being built during this decade.
Springboro's LIHTC-funded housing inventory includes a diverse mix of unit types. There are 29 efficiencies, 113 one-bedroom units, 53 two-bedroom units, and 49 three-bedroom units. This distribution suggests a focus on accommodating various household sizes and needs.
Over the last decade, Springboro's population has grown steadily, increasing from 22,014 in 2010 to 26,134 in 2022. The median income has also risen significantly, from $105,521 in 2013 to $111,088 in 2022, indicating a generally affluent community. The racial composition of Springboro has remained relatively stable, with the white population consistently making up around 90% of the total. There has been a slight increase in diversity, with small growth in Hispanic and multi-racial populations.
The completion of the Sanctuary At Springboro project in 2019 aligns with the city's population growth and increasing median income, suggesting a response to the growing need for affordable housing options in an increasingly prosperous community.
Springboro's LIHTC-funded affordable housing inventory, while modest in scale, represents a consistent effort to provide affordable options in a predominantly affluent community. The city's three LIHTC projects, developed over a 25-year period, offer a range of unit types to accommodate diverse needs. Despite the city's high median income and predominantly white population, the recent addition of affordable housing units indicates an ongoing commitment to maintaining housing diversity. The relatively small percentage of affordable units compared to the estimated housing inventory suggests there may be room for further development to meet potential affordable housing needs in this growing community.