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Affordable Housing in Zip Code 45409: Washington Square Homes' Impact on Kettering, 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 45409 in Kettering, Ohio, contains 39 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. These units, all designated as low-income, represent approximately 0.82% of the zip code's estimated 4,754 housing units, based on the 2022 population of 12,409. The LIHTC program has invested $602,061 in tax credits for affordable housing projects in this zip code, averaging $15,437 per unit. This investment accounts for 0.14% of the total LIHTC funding allocated to Ohio.
Washington Square Homes, completed in 2006, is the sole LIHTC project in zip code 45409. This development marks the beginning of LIHTC-funded affordable housing in the area, providing a stable presence of affordable units for over 15 years. The project consists of 39 units, focusing on larger family accommodations with 13 three-bedroom units and 26 four-bedroom units.
Over the past decade, zip code 45409 has experienced demographic shifts. The population has remained relatively stable, fluctuating between 11,442 and 12,787 residents. Median income has increased from $43,598 in 2013 to $61,534 in 2022, indicating improving economic conditions for some residents. Racial distribution has changed slightly, with the white population decreasing from 89% in 2017 to 83% in 2022, accompanied by small increases in Black, Hispanic, and Asian populations.
Despite these demographic changes, no new LIHTC projects have been developed in zip code 45409 in the last decade. This lack of new development may be attributed to the relatively stable population and increasing median income, potentially indicating a reduced need for additional affordable housing units through this specific program.
In summary, zip code 45409 in Kettering, Ohio, features a single LIHTC-funded affordable housing project, Washington Square Homes, which has provided 39 low-income units since 2006. While this project covers less than 1% of the estimated housing inventory, it offers crucial larger family units. The area has experienced modest demographic changes over the past decade, including a slight increase in median income and gradual diversification. The absence of new LIHTC projects in recent years may reflect the area's evolving needs and economic conditions.
