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Affordable Housing in Toledo's South Side: LIHTC Impact and Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The South Side neighborhood of Toledo, Ohio, contains a notable LIHTC-funded affordable housing inventory. As of 2022, the neighborhood has 113 total units in LIHTC-funded projects, with 23 designated as low-income units. These units represent approximately 1.68% of the estimated 6,702 housing units in the neighborhood.
The LIHTC program has allocated $146,508 in project tax credits for affordable housing in the South Side neighborhood. This equates to an average of $1,296 in federal funding per unit across all LIHTC-funded projects. The first LIHTC projects in the neighborhood, Airline Manor and South Toledo Homes, were completed in 1989. The most recent project, Byrneport Apts, was completed in 2006, indicating that affordable housing has been present in the neighborhood for at least 17 years.
The 1980s experienced the highest affordable housing activity, with two projects completed during that decade. Byrneport Apts, completed in 2006, is the largest project, comprising 91 total units, including 48 two-bedroom units, 42 three-bedroom units, and 1 four-bedroom unit.
The South Side neighborhood has undergone demographic changes over the past decade. The population has steadily declined from 20,700 in 2013 to 17,493 in 2022. Despite this decrease, the median income has shown an overall upward trend, increasing from $28,129 in 2013 to $37,595 in 2022, with some fluctuations in between.
The racial composition of the neighborhood has also changed. The percentage of Black residents increased from 21% in 2013 to 29% in 2022, while the Hispanic population saw a slight increase from 14% to 15%. The White population decreased from 55% to 50% during this period.
The absence of new LIHTC projects in the last decade may be attributed to the rising median income and changing demographics. However, it is important to note that other affordable housing programs may be addressing the neighborhood's needs beyond the LIHTC-funded projects.
The South Side neighborhood of Toledo has a small but established LIHTC-funded affordable housing inventory, with projects dating back to 1989. While the percentage of LIHTC units is relatively low compared to the estimated total housing stock, the neighborhood has experienced demographic shifts, including a decreasing population and increasing median income. These changes may have influenced the lack of new LIHTC projects in recent years, but a comprehensive assessment of all affordable housing programs would be necessary to fully understand the neighborhood's housing needs and how they are being met.
