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Affordable Housing in Zip Code 43082: Analysis of LIHTC-Funded Project in Westerville, Ohio
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 43082 in Westerville, Ohio contains a single Low-Income Housing Tax Credit (LIHTC) funded affordable housing project. This project comprises 75 total units, of which 63 are designated as low-income units. Based on the 2022 population of 31,719 and an estimated 12,153 housing units, the LIHTC-funded affordable housing represents approximately 0.62% of the zip code's estimated housing inventory.
The LIHTC program has allocated $389,629 in tax credits to this zip code, accounting for about 0.09% of Ohio's total LIHTC funding. This allocation translates to an average federal funding of $5,195 per unit in LIHTC-funded projects.
The area's LIHTC-funded affordable housing history began in 2004 with the completion of Westerville Woods Senior Housing. This project, which remains the only LIHTC development in the zip code, provided 75 units, including 3 one-bedroom and 45 two-bedroom apartments.
Over the past decade, zip code 43082 has experienced steady population growth, increasing from 29,897 in 2013 to 31,719 in 2022. During this period, the median income rose from $121,619 in 2013 to $131,727 in 2022, indicating a generally affluent area.
The racial composition has remained relatively stable, with a slight decrease in the white population from 88% in 2013 to 86% in 2022. There have been small increases in Asian, Hispanic, and multiracial populations, suggesting a gradual diversification trend.
Despite the area's overall affluence, the presence of LIHTC-funded housing indicates recognition of the need for affordable options, particularly for seniors, as evidenced by the Westerville Woods Senior Housing project.
Zip code 43082 in Westerville, Ohio has a single LIHTC-funded affordable housing project that has been serving the community since 2004. While the project represents a small percentage of the area's total housing stock, it provides important affordable options in an otherwise affluent area. The zip code's demographic trends show steady population growth and increasing median income, with a slowly diversifying racial composition. The continued presence of this LIHTC project suggests an ongoing commitment to maintaining some level of affordable housing options within the community, particularly for senior residents.
