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Affordable Housing in Zip Code 43609: LIHTC Funded Projects in Toledo, 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 43609 in Toledo, Ohio, contains a specific inventory of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. This area encompasses 113 total units in LIHTC funded projects, with 23 units designated as low-income. Based on the 2022 population of 20,298 and an estimated 7,777 housing units, the LIHTC funded affordable housing comprises approximately 1.45% of the zip code's estimated housing inventory.
The LIHTC program has invested $146,508 in project tax credits for this zip code, which represents 0.03% of Ohio's total LIHTC funding. This equates to an average federal funding of about $1,296 per unit in LIHTC funded projects. Affordable housing has been present in this zip code since 1989, with the initial projects being Airline Manor and South Toledo Homes. The most recent project, Byrneport Apts, was completed in 2006, indicating a 17-year span of LIHTC development in the area. The 1980s saw the highest number of affordable housing projects completed in this zip code.
The LIHTC funded housing inventory in this zip code includes various unit types. Of the 113 total units, 48 are two-bedroom units, 42 are three-bedroom units, and there is one four-bedroom unit. This distribution indicates a focus on accommodating families of different sizes.
Over the past decade, the zip code has experienced a declining population trend, from 23,275 in 2014 to 20,298 in 2022. Despite this decrease, the median income has shown an overall increase, rising from $28,531 in 2014 to $40,189 in 2022.
The racial composition of the zip code has remained relatively stable, with a slight increase in diversity. The white population decreased slightly from 55% in 2014 to 54% in 2022, while the Black population increased from 19% to 26%. The Hispanic population has remained relatively constant, moving from 12% to 14% during this period.
The absence of new LIHTC projects in the last decade may be related to the increasing median income, which could indicate a reduced need for additional low-income housing in the area. However, it is important to note that other affordable housing programs may be addressing any ongoing needs not captured by this data.
Zip code 43609 in Toledo, Ohio, has a modest LIHTC funded affordable housing inventory, covering about 1.45% of the estimated housing units. The area has seen LIHTC investments since 1989, with the most recent project completed in 2006. Despite a declining population, the area has experienced an increase in median income over the past decade. The racial composition has become slightly more diverse, with a notable increase in the Black population. While no new LIHTC projects have been developed in recent years, this could be due to changing demographics and economic conditions in the area.
