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Affordable Housing in Stoney Ridge: LIHTC Funded Project Impacts Dayton Neighborhood
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Stoney Ridge, a neighborhood in Dayton, Ohio, has a population of 2,388 as of 2022. The area features Low-Income Housing Tax Credit (LIHTC) funded affordable housing, with 31 low-income units. These units represent approximately 3.4% of the neighborhood's estimated housing stock of 915 units.
The LIHTC program has invested $55,196 in tax credits for affordable housing projects in Stoney Ridge. This equates to an average federal funding of $1,780 per unit. The neighborhood's affordable housing inventory consists of a single project, Stoney Ridge Estates, completed in 2008. This project has provided affordable housing options in the area for over a decade.
Stoney Ridge Estates comprises 31 units, all designated as low-income units. All 31 units are four-bedroom apartments, indicating a focus on accommodating larger families or households in need of affordable housing.
Stoney Ridge has experienced demographic shifts over the past decade. The population has shown an upward trend, increasing from 2,175 in 2019 to 2,388 in 2022. This population growth may indicate a continued need for affordable housing options in the area.
Median income in the neighborhood has also increased, growing from $32,368 in 2019 to $40,853 in 2022. Despite this increase, the presence of LIHTC funded housing suggests that a segment of the population still requires affordable housing options.
The neighborhood has maintained a relatively stable racial composition over the past decade. The Black population has remained the majority, although there has been a slight decrease from 67% in 2019 to 63% in 2022. The White population has also seen a small decline from 29% to 26% during the same period. There has been an increase in residents identifying as two or more races, rising from 3% in 2019 to 8% in 2022.
Stoney Ridge's affordable housing landscape is characterized by a single LIHTC funded project, Stoney Ridge Estates, which has provided 31 four-bedroom low-income units since 2008. While this project covers a small percentage of the estimated housing inventory, it represents a significant investment in affordable housing for the neighborhood. The area has experienced population growth and rising median incomes over the past decade, along with subtle shifts in racial demographics. These trends, coupled with the presence of LIHTC funded housing, suggest an ongoing need for affordable housing options in Stoney Ridge.
