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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 45044 in Middletown, Ohio, has a notable presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area contains 512 total units in LIHTC-funded projects, with 367 of these designated as low-income units. Based on the 2022 population of 57,264 and the national average household size, approximately 21,940 housing units exist in this zip code. The LIHTC-funded affordable housing covers about 2.3% of the estimated housing inventory in the area.
The LIHTC projects in zip code 45044 have received $2,839,250 in tax credits, averaging about $5,545 in federal funding per unit. This funding represents 0.67% of Ohio's total LIHTC allocation, indicating a significant investment in affordable housing for this particular area.
Affordable housing has been a part of zip code 45044 for nearly three decades, with the first LIHTC project, Lakota Pointe Townhouses, completed in 1994, and the most recent, Grove Street PSH, finished in 2020. The 1990s saw the most affordable housing development, with five projects completed during this decade.
The LIHTC-funded housing stock in zip code 45044 offers a diverse range of unit types. Of the 512 total units, there are 8 efficiencies, 18 one-bedroom units, 209 two-bedroom units, 116 three-bedroom units, and 20 four-bedroom units. This distribution suggests a focus on accommodating various household sizes, with a particular emphasis on two and three-bedroom units.
Over the past decade, zip code 45044 has experienced some demographic shifts. The population has grown from 53,474 in 2020 to 57,264 in 2022, a 7.1% increase. Median income has also risen, from $77,170 in 2020 to $79,314 in 2022, indicating improving economic conditions for residents.
Racial demographics in zip code 45044 have remained relatively stable, with a slight decrease in the white population from 78% in 2020 to 77% in 2022, and small increases in Hispanic (5% to 6%) and multi-racial (4% to 5%) populations. The Black population has remained constant at 10%, while the Asian population has held steady at 2%.
The completion of the Grove Street PSH project in 2020 aligns with the period of population growth and rising median income in zip code 45044, suggesting a continued need for affordable housing options even as overall economic conditions improved.
Zip code 45044 demonstrates a consistent commitment to affordable housing through LIHTC-funded projects spanning nearly three decades. While these projects cover a small percentage of the estimated housing inventory, they provide essential low-income units in an area experiencing population growth and rising median incomes. The diverse unit types offered cater to various household sizes, reflecting an effort to meet different community needs. As the area continues to evolve demographically and economically, the role of LIHTC-funded housing remains significant in maintaining affordable options for residents.