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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The Old West End neighborhood in Toledo, Ohio, contains a substantial inventory of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood has 307 units across 6 projects, including 272 designated low-income units. This affordable housing comprises approximately 14.6% of the estimated 2,098 housing units in the neighborhood, approaching the target percentage for a well-balanced community.
The LIHTC program has invested $1,083,583 in tax credits for affordable housing projects in the Old West End. This equates to an average federal funding of about $3,530 per unit. The development of LIHTC projects in the area spans from 1989 to 2004, with the 1990s seeing the most activity.
The LIHTC-funded housing in the Old West End offers a range of unit types, including 128 efficiencies, 37 one-bedroom units, 40 two-bedroom units, and 2 three-bedroom units. This diversity caters to various household sizes and needs within the community.
Over the past decade, the Old West End has experienced demographic changes. The population has remained relatively stable, between 5,300 and 5,700 residents. The median income has increased from $30,107 in 2015 to $45,476 in 2022, potentially indicating changing economic conditions in the neighborhood.
Racial demographics have also shifted. The percentage of Black residents has decreased from 57% in 2015 to 44% in 2022, while the White population has increased from 36% to 46%. The Hispanic population has grown from 2% to 7%. These changes suggest a gradual diversification of the neighborhood's racial composition.
No new LIHTC projects have been reported in the last decade. This may be due to the existing affordable housing stock meeting current needs or changes in funding priorities.
The Old West End neighborhood in Toledo demonstrates a commitment to affordable housing through its LIHTC-funded projects. With 14.6% of its estimated housing inventory dedicated to affordable units, the neighborhood approaches the target for a well-balanced community. The diverse range of unit types and the sustained development of affordable housing from 1989 to 2004 reflect efforts to meet various housing needs. While demographic changes have occurred in recent years, including increases in median income and shifts in racial composition, the existing affordable housing stock continues to play a crucial role in the neighborhood's housing landscape.