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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 43026, located in Hilliard, Ohio, contains 426 total units in Low-Income Housing Tax Credit (LIHTC) funded projects, with 425 designated as low-income units. Based on the 2022 population of 63,874 and an estimated 24,473 housing units, LIHTC funded affordable housing comprises approximately 1.74% of the zip code's estimated housing inventory. The LIHTC projects in this zip code have received $1,399,073 in project tax credits, averaging about $3,285 in federal funding per unit. This funding represents 0.33% of the total state LIHTC allocation.
Affordable housing has been present in this zip code for over three decades. The first LIHTC project, Nike Meadows, was completed in 1988, and the most recent, Sturbridge Green, was finished in 2014. The 1990s saw the most activity in LIHTC development, with projects such as Bayside Commons, Bayside Commons II, and Country Ridge Apartments being completed. The LIHTC funded housing stock in this zip code offers a range of unit types, including 88 one-bedroom units, 72 two-bedroom units, and 140 three-bedroom units, catering to various household sizes and needs.
Over the past decade, zip code 43026 has experienced steady population growth, increasing from 56,371 in 2014 to 63,874 in 2022. During this period, the median income also rose from $94,259 in 2014 to $100,276 in 2022, with a peak of $112,093 in 2021. This overall upward trend in income might explain the lack of new LIHTC projects since 2014, as the area's increasing affluence may have reduced the perceived need for additional affordable housing.
The racial composition of zip code 43026 has become more diverse over the past decade. The white population decreased from 85% in 2014 to 77% in 2022, while the Asian population increased from 5% to 7%, and the Black population from 4% to 6%. The Hispanic population also grew from 2% to 5% during this period. This increasing diversity might suggest a need for culturally sensitive affordable housing options in the future.
Zip code 43026 has an established LIHTC funded affordable housing inventory, covering about 1.74% of the estimated housing stock. The area has seen steady population growth and increasing median incomes over the past decade, along with growing racial diversity. While no new LIHTC projects have been completed since 2014, the changing demographics of the area may influence future affordable housing needs and development.