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Affordable Housing in Zip Code 43068: A Three-Decade Evolution
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 43068 in Reynoldsburg, Ohio contains a diverse Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The area has 384 units in LIHTC funded projects, with 260 designated as low-income units. Based on the 2022 population of 58,928 and the national average household size, the estimated housing inventory for this zip code is approximately 22,578 units. The LIHTC funded affordable housing units represent about 1.7% of the estimated housing stock in this zip code.
The LIHTC projects in this zip code have received $680,403 in project tax credits, which translates to an average of $1,772 in federal funding per unit. This zip code holds 0.16% of the total state LIHTC funding, indicating a relatively small but significant contribution to Ohio's affordable housing efforts.
Affordable housing has been present in this zip code for over three decades. The first LIHTC project, Gemstar, was completed in 1988, while the most recent, Blacklick Crossing, was finished in 2019. The 1990s saw the most affordable housing development, with three projects completed during that decade.
The LIHTC funded projects in this zip code offer a variety of unit types to accommodate different household sizes. There are 111 one-bedroom units, 18 two-bedroom units, and 92 three-bedroom units. This distribution suggests a focus on accommodating both smaller households and families.
Over the past decade, the zip code has experienced steady population growth, increasing from 53,069 in 2014 to 58,928 in 2022. The median income has fluctuated but generally increased from $65,938 in 2014 to $69,193 in 2022.
Racial demographics have shifted noticeably. The white population decreased from 63% in 2014 to 47% in 2022, while the Black population increased from 25% to 32%. The Asian population grew from 2% to 8%, and those identifying as two or more races increased from 3% to 6%. This increasing diversity may indicate changing housing needs in the community.
The completion of Blacklick Crossing in 2019 aligns with these demographic shifts, potentially responding to the growing and diversifying population's affordable housing needs.
Zip code 43068 has a small but established LIHTC funded affordable housing inventory, representing about 1.7% of the estimated housing stock. The area has seen consistent investment in affordable housing over three decades, with projects ranging from 1988 to 2019. The diverse unit types suggest efforts to accommodate various household sizes. The LIHTC funded units play a crucial role in providing affordable options in an area that has seen significant population growth and demographic changes over the past decade.
