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Affordable Housing in Urbana, Ohio: A Longitudinal Analysis of LIHTC Projects
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Urbana, Ohio, with a population of 16,198 as of 2022, covers an area of 7.91 square miles. The city's Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory comprises 112 units, all designated as low-income. This represents approximately 1.8% of the city's estimated 6,206 housing units.
Urbana has received $170,941 in project tax credits for affordable housing through the LIHTC program. With 5 projects, this equates to an average of $34,188 in federal funding per project. The average federal funding per unit is $1,526. Urbana accounts for 0.04% of the total state LIHTC funding.
The initial LIHTC project in Urbana, Ccris Apts, was completed in 1988, while the most recent project, Hattie Greene, was finished in 2011. This indicates a 23-year span of affordable housing presence in the city. The 1990s saw the highest number of affordable housing project completions, with two projects: Edgewood Hill Apts and South Urbana Retirement.
The LIHTC-funded housing units in Urbana are distributed as follows: 36 one-bedroom units, 39 two-bedroom units, 24 three-bedroom units, and 2 four-bedroom units. This distribution caters to various household sizes and needs within the community.
Urbana's population has decreased slightly over the last decade, from 16,479 in 2014 to 16,198 in 2022. However, the median income has increased from $48,872 in 2014 to $53,829 in 2022, indicating some economic growth. The racial distribution has remained relatively stable, with a slight decrease in the white population from 91% in 2014 to 88% in 2022, and small increases in other racial categories, particularly those identifying as two or more races (from 2% to 5%).
Urbana's LIHTC-funded affordable housing inventory provides 112 low-income units across 5 projects. The city has maintained a consistent presence of affordable housing since 1988, with projects spanning various decades. The diverse unit mix suggests an effort to accommodate different household sizes. The slight population decrease, rising median income, and subtle shifts in racial demographics indicate a changing socioeconomic landscape that may influence future affordable housing needs in Urbana.
