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Affordable Housing in Zip Code 45648: Analysis of LIHTC Project in Lucasville, 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 45648, located in Lucasville, Ohio, contains one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project. This project provides 32 affordable units, all of which are designated as low-income units. Based on the 2022 population of 11,606 and an estimated 4,447 housing units in the zip code, the LIHTC-funded affordable housing represents approximately 0.72% of the estimated housing inventory.
The LIHTC project in zip code 45648 received $36,568 in tax credits, averaging $1,143 per unit in federal funding. This funding constitutes 0.01% of Ohio's total LIHTC allocation, indicating a relatively small portion of the state's affordable housing resources.
The single LIHTC project in the area, Kelli Apts, was completed in 1995. This project has been present in the zip code for nearly three decades. It consists of 8 one-bedroom units, 16 two-bedroom units, and 8 three-bedroom units, offering a range of housing options for different household sizes.
Over the past decade, the population of zip code 45648 has fluctuated, showing a general downward trend from 12,668 in 2015 to 11,606 in 2022. Despite this population decline, the median income has increased overall, rising from $44,215 in 2015 to $51,071 in 2022. This upward trend in median income may partially explain the absence of additional LIHTC projects in recent years.
The racial composition of zip code 45648 has remained relatively stable. The white population has consistently represented about 91-92% of residents. The Black population has maintained a steady presence at around 6%, while other racial groups comprise smaller percentages.
In summary, zip code 45648 in Lucasville, Ohio, contains a single LIHTC-funded affordable housing project that has served the community since 1995. This project provides a small percentage of the area's estimated housing inventory but offers various unit sizes to accommodate different household needs. The zip code has experienced a slight population decline and an increase in median income over the past decade, which may have influenced the lack of additional LIHTC development. The racial composition has remained relatively constant during this period.
