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Affordable Housing in Zip Code 43056: A Unique LIHTC Project in Heath, Ohio
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 43056, located in Heath, Ohio, contains a single Low-Income Housing Tax Credit (LIHTC) funded affordable housing project. This zip code has a total of 40 units in LIHTC funded projects, with 4 of these designated as low-income units. As of 2022, the population of this zip code was 18,198, with an estimated 6,972 housing units based on the national average household size. The LIHTC funded affordable housing covers approximately 0.57% of the estimated housing inventory in this zip code.
The LIHTC project in zip code 43056 received $197,702 in tax credits, which equates to an average federal funding of $4,943 per unit. This funding represents 0.05% of Ohio's total LIHTC allocation, indicating a relatively small portion of the state's affordable housing investment in this area.
The sole LIHTC project in this zip code, High Meadows, was completed in 1995. This project has been providing affordable housing options in the area for nearly three decades. High Meadows consists of 8 two-bedroom units and 32 three-bedroom units, offering a mix of housing options for different family sizes.
Over the past decade, the population in zip code 43056 has remained relatively stable, fluctuating between 18,000 and 20,000 residents. The median income has shown an overall upward trend, increasing from $53,500 in 2013 to $61,974 in 2022, with a peak of $73,818 in 2021. This gradual rise in median income might suggest a decreasing need for additional affordable housing in recent years.
The racial composition of zip code 43056 has remained predominantly white, consistently above 90% throughout the decade. There has been a slight increase in diversity, with small increases in the Hispanic, Black, and multiracial populations. However, these changes have been minimal and may not have significantly impacted the demand for affordable housing.
Zip code 43056 in Heath, Ohio, has a modest LIHTC funded affordable housing inventory, with one project providing 40 units, 4 of which are designated as low-income. This represents a small fraction of the estimated housing stock in the area. The High Meadows project, completed in 1995, has been the sole LIHTC development in the zip code for nearly 30 years. While the population has remained stable, the area has seen a gradual increase in median income over the past decade, which may have influenced the lack of additional LIHTC projects in recent years. The racial composition has remained predominantly white, with only slight increases in diversity. These demographic trends, combined with the existing affordable housing stock, provide context for the current state of LIHTC funded housing in this zip code.
