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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 45305, located in Bellbrook, Ohio, has a population of 10,598 as of 2022. This area has two Low-Income Housing Tax Credit (LIHTC) funded affordable housing projects, providing a total of 150 affordable units, all of which are designated as low-income units. Based on the estimated housing inventory of 4,061 units, the LIHTC-funded affordable housing covers approximately 3.69% of the zip code's housing stock.
The LIHTC projects in zip code 45305 have received $1,222,581 in tax credits, averaging $8,151 in federal funding per unit. This funding represents 0.29% of Ohio's total LIHTC allocations, indicating a relatively small portion of the state's affordable housing investment in this area.
Affordable housing has been present in this zip code since 1994, with the completion of Sugarcreek Village Apartments. The most recent project, Cedar Trail Apartments, was completed in 1995. The 1990s saw the most affordable housing development in this area.
The inventory of LIHTC-funded units in zip code 45305 includes 11 two-bedroom units and 22 three-bedroom units. This distribution suggests a focus on accommodating small to medium-sized families in the area's affordable housing stock.
Over the past decade, zip code 45305 has experienced moderate population growth, increasing from 10,000 in 2013 to 10,598 in 2022. The median income has risen significantly, from $94,811 in 2013 to $109,896 in 2022, indicating improving economic conditions for residents.
Racial demographics in zip code 45305 have remained relatively stable, with a slight decrease in the white population from 91% in 2013 to 88% in 2022. There has been a small increase in racial diversity, particularly in the Asian population, which grew from 1% to 5% during this period.
The lack of new LIHTC projects in zip code 45305 over the last decade may be attributed to the area's rising median income and relatively stable population, potentially reducing the perceived need for additional affordable housing units.
Zip code 45305 has a modest LIHTC-funded affordable housing inventory, covering about 3.69% of its estimated housing stock. The area received a small portion of Ohio's LIHTC funding, with all projects completed in the mid-1990s. Despite population growth and significant increases in median income over the past decade, no new LIHTC projects have been developed. The existing affordable housing stock primarily caters to small and medium-sized families with its mix of two and three-bedroom units. While the area has experienced some increase in racial diversity, it remains predominantly white. These demographic trends and the lack of recent LIHTC development suggest changing affordable housing needs in this zip code.