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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 43062, located in Pataskala, Ohio, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 219 units. All of these units are designated as low-income units. The zip code covers an area of 80.65 square miles and had a population of 31,206 in 2022. Based on the estimated housing inventory of 11,956 units, LIHTC funded affordable housing comprises approximately 1.83% of the total housing stock in this zip code.
The LIHTC projects in zip code 43062 have received $614,952 in project tax credits, averaging $2,808 per unit. This zip code accounts for 0.14% of the total LIHTC funding allocated to the state of Ohio. The LIHTC program has been active in this zip code since 1988, with the most recent project completed in 1997. The 1990s saw the most significant development of affordable housing in this area, with four out of five projects completed during this decade.
The inventory primarily consists of one-bedroom and two-bedroom units, with 4 one-bedroom and 2 two-bedroom units specifically reported. This distribution indicates a focus on housing for small families or individuals.
Over the past decade, zip code 43062 has experienced steady population growth, increasing from 28,370 in 2020 to 31,206 in 2022. The median income has also shown an upward trend, rising from $88,099 in 2020 to $88,541 in 2022, with a peak of $91,421 in 2021.
Racial demographics in zip code 43062 have shifted slightly, with the white population decreasing from 86% in 2020 to 83% in 2022. The Asian population has increased from 3% to 6% during the same period. The Black population has remained relatively stable at around 4-6%, while the Hispanic population has held steady at 3%.
Despite the absence of new LIHTC projects in the last decade, the demographic trends show a growing and diversifying population with a relatively high median income. This may suggest that while there could be a need for affordable housing, it may not be as acute as in other areas, potentially explaining the lack of recent LIHTC developments.
Zip code 43062 in Pataskala, Ohio, has a modest LIHTC funded affordable housing inventory, covering approximately 1.83% of the estimated housing stock. The area has seen LIHTC investments spanning from 1988 to 1997, with the majority of projects completed in the 1990s. While the population has grown and diversified over the past decade, and median incomes have remained relatively high, there have been no new LIHTC projects in recent years. This analysis provides insights into the affordable housing landscape of the zip code, highlighting the historical contribution of the LIHTC program to the area's housing needs.