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Affordable Housing in Zip Code 43315: Two Decades of LIHTC Development in Rural 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 43315 in Ohio, which includes Cardington, contains 85 affordable housing units funded through the Low-Income Housing Tax Credit (LIHTC) program. All of these units are designated as low-income units. Based on the 2022 population of 7,136 and an estimated 2,734 housing units in the zip code, the LIHTC-funded affordable housing comprises approximately 3.11% of the estimated housing inventory.
The LIHTC projects in zip code 43315 have received $574,598 in tax credits, averaging about $6,760 per unit. This zip code holds 0.14% of Ohio's total LIHTC funding. Affordable housing has been present in the area for nearly two decades, with the first project, Dunham Green Apartments, completed in 1997, and the most recent, Cardington Place, finished in 2016.
The 2000s saw the most affordable housing development, with projects like Auburn Hills completed in 2001. The LIHTC-funded inventory in this zip code includes 5 one-bedroom units, 14 two-bedroom units, and 30 three-bedroom units, indicating a focus on accommodating families of various sizes.
Over the last decade, the population of zip code 43315 has fluctuated, peaking at 7,825 in 2019 before declining to 7,136 in 2022. The median income has shown an overall upward trend, rising from $58,208 in 2017 to $66,310 in 2022. The racial composition has remained predominantly white, consistently above 95% throughout the period.
The completion of Cardington Place in 2016 aligns with a period of population growth and increasing median income, suggesting a response to growing housing needs in the area. The subsequent decline in population after 2019 might explain the lack of new LIHTC projects in recent years.
Zip code 43315 has a modest LIHTC-funded affordable housing inventory, covering about 3.11% of the estimated housing stock. The area has seen sporadic development of affordable housing over two decades, with projects tailored to various household sizes. While the population and median income have fluctuated, the consistent racial composition suggests stable community demographics. The LIHTC program has played a role in addressing affordable housing needs in this predominantly rural Ohio zip code, though it represents a small portion of the overall housing market.
