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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 44484, located in Howland Center, Ohio, contains a notable Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. This zip code has 140 total units in LIHTC funded projects, with 104 designated as low-income units. Based on the 2022 population of 22,032 and an estimated 8,441 housing units, the LIHTC funded affordable housing covers approximately 1.66% of the zip code's estimated housing inventory.
The LIHTC projects in zip code 44484 have received $961,397 in project tax credits, averaging about $6,867 per unit when divided by the total units in LIHTC funded projects. This funding represents 0.23% of Ohio's total LIHTC allocation, indicating a modest but significant investment in affordable housing for this area.
Affordable housing has been present in zip code 44484 for at least three decades. The first LIHTC project, Mauro Circle Apts, was completed in 1993. The most recent project, Waterstone Place, was completed in 2003. The 1990s saw the most affordable housing development activity, with three out of four projects completed during this decade.
The LIHTC funded projects in zip code 44484 offer a diverse range of unit types. There are 45 one-bedroom units, 39 two-bedroom units, 15 three-bedroom units, and 29 four-bedroom units. This distribution suggests an effort to accommodate various household sizes and compositions within the affordable housing inventory.
Over the past decade, the zip code's population has shown slight fluctuations, with a general trend of decrease from 23,336 in 2014 to 22,032 in 2022. Despite this population decline, the median income has increased from $55,314 in 2014 to $58,798 in 2022, indicating a potential improvement in economic conditions for some residents.
The racial composition of zip code 44484 has remained relatively stable, with the white population consistently representing the majority at around 85-88% over the past decade. There has been a slight increase in diversity, with small growth in the Hispanic population (from 1% to 2%) and those identifying as two or more races (from 1% to 3%).
While no new LIHTC projects have been built in zip code 44484 in the last decade, the existing affordable housing stock continues to serve the community. The slight increase in median income and relatively stable population suggest that the current affordable housing inventory may be meeting a portion of the area's needs.
Zip code 44484 has a modest LIHTC funded affordable housing inventory, covering about 1.66% of the estimated housing units. The area has received nearly $1 million in tax credits for these projects, which were primarily developed in the 1990s. The existing affordable housing offers a range of unit sizes to accommodate different household needs. The demographic trends show a slight decrease in population and increase in median income over the past decade, while the consistent racial composition and lack of recent LIHTC developments suggest a relatively stable affordable housing landscape in this zip code.