Loading Content...
Affordable Housing in Zip Code 45872: Analysis of LIHTC Project in North Baltimore, Ohio
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
North Baltimore, Ohio, zip code 45872, is a rural area with a population of 4,589 as of 2022. This zip code has one LIHTC-funded affordable housing project, providing a total of 52 low-income units. Based on the estimated housing inventory of 1,758 units, the LIHTC-funded affordable housing covers approximately 2.96% of the zip code's housing stock.
The LIHTC project in this zip code received $44,459 in tax credits, averaging $855 per unit in federal funding. This represents 0.01% of Ohio's total LIHTC funding, indicating a relatively small allocation for this rural area.
The sole LIHTC project, Wood Village, was completed in 1997, marking over two decades of affordable housing presence in the zip code. This project consists of 28 one-bedroom units and 24 two-bedroom units, catering to various household sizes within the low-income population.
Over the past decade, the zip code's population has remained relatively stable, fluctuating between 4,445 and 4,791 residents. The median income has shown some variability, ranging from $43,772 in 2014 to $56,649 in 2019, with the most recent figure at $48,460 in 2022.
The racial composition of the area has been predominantly white, consistently above 87% throughout the decade. There has been a slight increase in diversity, with the Hispanic population remaining at 5% from 2013 to 2022, and a small increase in the Black population to 3% in 2022.
Despite these demographic changes, no new LIHTC projects have been developed in the last decade. This could be due to various factors, including the relatively stable population and the existing affordable housing stock meeting a portion of the community's needs.
The 45872 zip code area has a single LIHTC-funded affordable housing project, Wood Village, providing 52 low-income units since 1997. This project represents a small but significant contribution to the area's affordable housing stock, covering nearly 3% of the estimated housing inventory. While demographic trends show slight increases in diversity and fluctuations in median income, no new LIHTC projects have been developed in recent years. The existing project continues to play a role in addressing affordable housing needs in this rural Ohio community.
