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Affordable Housing in Zip Code 45011: Three Decades of LIHTC Development in Hamilton, 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 45011 in Hamilton, Ohio, contains a substantial inventory of affordable housing funded by the Low-Income Housing Tax Credit (LIHTC) program. This area encompasses 928 total units in LIHTC-funded projects, with 864 units specifically designated as low-income. Based on the 2022 population of 74,032 and an estimated 28,365 housing units, LIHTC-funded affordable housing comprises approximately 3.3% of the zip code's estimated housing inventory.
LIHTC projects in zip code 45011 have received $4,172,597 in tax credits, averaging about $4,496 per unit in federal funding. This zip code holds 0.98% of Ohio's total LIHTC funding, indicating a significant investment in affordable housing for the area. Affordable housing has been a consistent feature of this zip code for three decades, with the first LIHTC project, Miami Manor, completed in 1989 and the most recent, Neilan Park Apartments, finished in 2019.
The LIHTC-funded housing in zip code 45011 offers a diverse range of unit types. Out of the 928 total units, there are 54 efficiencies, 250 one-bedroom units, 293 two-bedroom units, 198 three-bedroom units, and 11 four-bedroom units. This variety accommodates different household sizes and needs within the low-income population.
Over the past decade, zip code 45011 has experienced steady population growth, increasing from 67,248 in 2013 to 74,032 in 2022. Median income has also risen, from $76,913 in 2013 to $85,433 in 2022. Despite this economic growth, the continued development of LIHTC projects suggests an ongoing need for affordable housing.
The racial composition of zip code 45011 has become more diverse over time. The white population decreased from 80% in 2013 to 71% in 2022, while other racial groups, particularly Asian and Hispanic populations, saw increases. This demographic shift may influence the demand for diverse affordable housing options.
Zip code 45011 in Hamilton, Ohio, demonstrates a consistent commitment to affordable housing through its LIHTC-funded projects. With 928 total units, including 864 low-income units, these projects play a crucial role in addressing housing needs. The area has seen continuous development of affordable housing over three decades, with a variety of unit types to accommodate different household sizes. While the zip code has experienced economic growth and increasing diversity, the ongoing investment in LIHTC projects suggests a persistent need for affordable housing options in this community.
