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Affordable Housing in Zip Code 43207: Three Decades of LIHTC Development in Columbus, 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 43207 in Columbus, Ohio, presents a case study in affordable housing. This area, covering 25.07 square miles, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 801 total units, with 676 designated as low-income units. Based on the 2022 population of 45,367 and using the national average household size of 2.61, there are approximately 17,382 housing units in this zip code. The LIHTC-funded affordable housing represents about 4.6% of the estimated housing inventory.
The LIHTC projects in zip code 43207 have received $7,586,139 in tax credits, averaging approximately $9,470 per unit in federal funding. This investment represents 1.78% of Ohio's total LIHTC funding. Affordable housing has been a part of this community for over three decades. The first LIHTC project, Merion Court, was completed in 1989, while the most recent, Parsons Place Apartments, was finished in 2020. The 1990s saw the most activity, with seven projects completed during that decade.
The LIHTC-funded housing stock in zip code 43207 offers a range of unit types. Out of the 801 total units, there are 29 efficiencies, 89 one-bedroom units, 418 two-bedroom units, 75 three-bedroom units, and 50 four-bedroom units. This distribution suggests a focus on accommodating various family sizes, with an emphasis on two-bedroom units.
Over the past decade, zip code 43207 has experienced demographic shifts. The population has remained relatively stable, fluctuating between 45,000 and 46,500 residents. Median income has shown an upward trend, increasing from $41,878 in 2013 to $52,972 in 2022, potentially indicating improved economic conditions for some residents.
Racial demographics in zip code 43207 have seen changes. The white population has decreased from 66% in 2013 to 61% in 2022, while the Black population has increased from 25% to 27%. The Hispanic population has grown from 3% to 5%, and those identifying as two or more races have increased from 2% to 6%. These shifts suggest a gradually diversifying community.
Despite the overall increase in median income, the continued development of LIHTC projects in zip code 43207 (with four completed since 2013) indicates an ongoing need for affordable housing in this area. This could be due to income inequality or specific segments of the population still requiring affordable options despite overall economic improvements.
Zip code 43207 in Columbus, Ohio, demonstrates a consistent commitment to affordable housing through the LIHTC program. With 801 total units, representing 4.6% of the estimated housing inventory, LIHTC-funded projects play a significant role in addressing affordable housing needs. The diverse unit mix caters to various household sizes, and the continuous development of projects over three decades reflects an ongoing response to community needs. While demographic trends show some economic improvement and increasing diversity, the sustained investment in affordable housing suggests a persistent demand for these units in the area.
