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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Westwood, a neighborhood in Cincinnati, Ohio, has a presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory comprises 129 total units, with 82 designated as low-income units. Based on the 2022 population of 41,020 and an estimated 15,716 housing units, the LIHTC-funded affordable housing represents approximately 0.82% of the neighborhood's estimated housing inventory.
The LIHTC program has provided $103,915 in tax credits for affordable housing projects in Westwood. This translates to an average of about $805 in federal funding per unit. Affordable housing has been part of Westwood's landscape since at least 1988, with the completion of Mahogany Hills Apartments. The most recent project, Rolling Ridge Apartments, was completed in 2007, indicating nearly two decades of LIHTC investment in the neighborhood.
The 1980s and 1990s saw the most LIHTC project completions in Westwood, with Mahogany Hills Apartments (1988) and Bethany Homes (1994) being notable projects from this period. The housing inventory includes a mix of unit types, with 38 two-bedroom and 12 three-bedroom units recorded among the projects.
Over the past decade, Westwood's population has fluctuated, with a slight overall increase from 39,897 in 2013 to 41,020 in 2022. The median income has also shown an upward trend, rising from $41,510 in 2013 to $43,244 in 2022. This modest income growth may indicate a continuing need for affordable housing options in the neighborhood.
Racial demographics in Westwood have shifted noticeably. The Black population increased from 39% in 2013 to 47% in 2022, while the White population decreased from 54% to 43% during the same period. The Hispanic population grew from 1% to 4%, and the Asian population remained stable at around 1%. These demographic changes suggest a diversifying community that may benefit from continued investment in affordable housing to support various income levels and family sizes.
Westwood's LIHTC-funded affordable housing inventory, while present, covers a small percentage of the neighborhood's estimated housing stock. The neighborhood has seen LIHTC investments spanning from the late 1980s to the mid-2000s, providing a mix of unit types to serve different household sizes. The demographic trends over the past decade, including population growth, modest income increases, and significant shifts in racial composition, suggest an evolving community where affordable housing remains an important consideration for maintaining neighborhood diversity and meeting the needs of lower-income residents.