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Affordable Housing in Zip Code 43302: A Long-Term Commitment in Marion, 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
The zip code 43302 in Marion, Ohio, contains a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. This area encompasses 632 total units in LIHTC funded projects, with 560 of these designated as low-income units. Based on the 2022 population of 54,821 and an estimated 21,004 housing units, the LIHTC funded affordable housing comprises approximately 3% of the zip code's estimated housing inventory.
The LIHTC projects in zip code 43302 have received $1,271,070 in project tax credits, averaging about $2,011 per unit in federal funding. This zip code accounts for 0.3% of Ohio's total LIHTC funding, indicating a modest but notable contribution to the state's affordable housing efforts.
Affordable housing has been present in this zip code for over three decades. The first LIHTC project, Marion County, was completed in 1988, and the most recent, Marion Towers II, was finished in 2016. The 1990s and 2000s experienced significant affordable housing development, with projects such as Fox Chase Apts (1993), Harding Centre (1996), Fairview Apts I (2006), and Avalon Lakes Apts (2007) being completed.
The LIHTC funded housing in zip code 43302 offers a diverse range of unit types. Of the 632 total units, there are 15 efficiencies, 259 one-bedroom units, 84 two-bedroom units, 58 three-bedroom units, and 21 four-bedroom units. This variety accommodates different household sizes and needs within the low-income population.
Over the past decade, the population in zip code 43302 has remained relatively stable, fluctuating between 54,000 and 55,000 residents. The median income has shown a positive trend, increasing from $43,588 in 2015 to $56,230 in 2022. This rise in median income may indicate a decreasing need for additional affordable housing in recent years.
The racial composition of zip code 43302 has remained largely consistent, with a slight decrease in the white population from 88% in 2013 to 85% in 2022. There has been a small increase in diversity, with the percentage of residents identifying as two or more races growing from 2% to 4% during this period.
Zip code 43302 in Marion, Ohio, has an established LIHTC funded affordable housing inventory that covers about 3% of the estimated housing stock. The area has experienced consistent development of affordable housing over three decades, with a variety of unit types available. While the population has remained stable, the rising median income in recent years may have influenced the slower pace of new LIHTC projects. The modest racial diversification trend could potentially impact future affordable housing needs and development in this zip code.
