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Affordable Housing in Zip Code 44830: LIHTC Funded Projects in Fostoria, 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 44830 in Fostoria, Ohio, contains a diverse Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The area encompasses 133 total units in LIHTC funded projects, with 70 units designated as low-income. Based on the 2022 population of 18,687 and the national average household size of 2.61, an estimated 7,160 housing units exist in this zip code. LIHTC funded affordable housing comprises approximately 1.86% of the estimated housing inventory, indicating a small but significant contribution to affordable housing in the area.
The LIHTC projects in zip code 44830 have received $979,020 in project tax credits, averaging about $7,361 per unit in federal funding. This zip code holds 0.23% of Ohio's total LIHTC funding, suggesting a relatively small portion of the state's affordable housing investment is concentrated in this area.
Affordable housing has been present in zip code 44830 for over three decades. The first LIHTC project, Seneca County Apts, was completed in 1988, while the most recent, Eco Village Apartments, was finished in 2020. The 2000s saw the most activity, with three projects completed during this decade: Dillon Crossing (2005), Quail Meadow (2006), and Wesley Commons (1999).
The LIHTC funded housing stock in zip code 44830 offers a variety of unit types. There are 12 one-bedroom units, 69 two-bedroom units, 18 three-bedroom units, and 23 four-bedroom units. This distribution indicates a focus on accommodating families of various sizes, with a particular emphasis on two-bedroom units.
Over the past decade, the population of zip code 44830 has remained relatively stable, fluctuating between about 18,600 and 19,500 residents. The median income has shown an overall upward trend, increasing from $44,505 in 2018 to $49,666 in 2022, with a peak of $55,409 in 2021. This trend may indicate a growing need for affordable housing options as income disparities potentially widen.
The racial composition of zip code 44830 has remained predominantly white, though there has been a slight decrease from 84% in 2013 to 79% in 2022. The Hispanic population has grown from 7% to 12% during this period, while other racial groups have remained relatively stable. This increasing diversity may suggest a need for culturally sensitive affordable housing options.
Zip code 44830 in Fostoria, Ohio, has a small but established LIHTC funded affordable housing inventory, covering about 1.86% of the estimated housing stock. The area has seen consistent development of affordable housing projects over the past three decades, with a focus on family-sized units. While the population has remained stable, rising median incomes and increasing racial diversity may influence future affordable housing needs in the area. The LIHTC program has played a role in addressing affordable housing needs in this zip code, though it represents a small portion of Ohio's overall LIHTC investment.
