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Affordable Housing Landscape in Dayton's Historic Inner East: Three Decades of LIHTC Development
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
The Historic Inner East neighborhood in Dayton, Ohio, has a notable presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory consists of 97 total units, with 87 of these designated as low-income units. Based on the estimated 1,030 housing units in the neighborhood, the LIHTC funded affordable housing covers approximately 9.4% of the neighborhood's housing inventory.
The LIHTC projects in this neighborhood have received $593,811 in project tax credits. This translates to an average federal funding of about $6,122 per unit. The first LIHTC project, McClure Apts, was built in 1988, while the most recent project, Huffman Senior Apts, was completed in 2001. This indicates that affordable housing has been present in the neighborhood for over three decades.
The 2000s saw the most significant development in LIHTC funded affordable housing, with Huffman Senior Apts being the largest project. This development added 86 units to the neighborhood's affordable housing stock, including 77 one-bedroom units and 9 two-bedroom units. The earlier project, McClure Apts, contributed 11 units, with 1 designated as a low-income unit.
Over the last decade, the neighborhood's population has fluctuated, reaching a low of 2,232 in 2015 and peaking at 3,053 in 2020. The median income has also varied, ranging from a low of $24,304 in 2017 to a high of $33,625 in 2021. The racial composition of the neighborhood has shifted, with the white population decreasing from 88% in 2015 to 69% in 2022, while the Black population increased from 2% to 21% during the same period.
The lack of new LIHTC projects in the last decade could be related to these demographic shifts. The fluctuating population and income levels might not have indicated a consistent need for additional affordable housing. However, the recent increase in racial diversity could potentially signal a changing demographic landscape that might require reassessment of affordable housing needs in the future.
The Historic Inner East neighborhood in Dayton has a moderate presence of LIHTC funded affordable housing, covering about 9.4% of the estimated housing inventory. The two LIHTC projects, built in 1988 and 2001, have provided a mix of unit types, with a focus on one-bedroom apartments. While no new LIHTC projects have been developed in the last decade, the neighborhood has experienced significant demographic changes, including population fluctuations, varying income levels, and increasing racial diversity. These changes may influence future affordable housing needs and development in the area.
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