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Affordable Housing Prevalence and Demographic Shifts in Cincinnati's Over-The-Rhine Neighborhood
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Over-The-Rhine, a historic neighborhood in Cincinnati, Ohio, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood contains 1,082 total units in LIHTC-funded projects, with 998 designated as low-income units. This inventory addresses a substantial portion of the community's housing needs.
Based on the estimated 2,452 housing units in the neighborhood, LIHTC-funded affordable housing comprises approximately 44% of the neighborhood's housing inventory. This proportion indicates a strong commitment to affordable housing in Over-The-Rhine.
The LIHTC program has invested significantly in Over-The-Rhine, with project tax credits totaling $3,911,712. This equates to an average federal funding of about $3,615 per unit in LIHTC-funded projects. Affordable housing has been a long-standing feature of Over-The-Rhine, with the earliest LIHTC project, McMicken Manor, completed in 1988. The most recent projects, Mercer Commons Phase II and Losantiville 202 Apartments, were completed in 2014, demonstrating over 26 years of continuous affordable housing development in the neighborhood.
The 1990s saw the most affordable housing projects completed, with multiple developments such as Ford Rentals, North Rhine Network Project, and Chitwood Manor constructed during this decade. The neighborhood's LIHTC-funded housing stock is diverse, featuring 60 efficiencies, 93 one-bedroom units, 166 two-bedroom units, 123 three-bedroom units, and 30 four-bedroom units. This variety accommodates different household sizes and needs within the community.
St Anthony Village, completed in 2002, is a notable project that specifically targets single parents. This development addresses the unique needs of this demographic, potentially offering support services or amenities tailored to single-parent households.
Over the past decade, Over-The-Rhine has experienced significant demographic shifts. The population has grown from 5,816 in 2015 to 6,401 in 2022, indicating increasing neighborhood desirability. Median income has risen from $26,744 in 2015 to $64,893 in 2022, suggesting gentrification pressures.
Racial demographics have also shifted, with the white population increasing from 44% in 2015 to 59% in 2022, while the black population decreased from 46% to 31% during the same period. This change in racial composition aligns with the rising median income, potentially indicating displacement of lower-income residents.
No new LIHTC projects have been completed since 2014, coinciding with these demographic shifts. This could be due to rising property values making affordable housing development more challenging, or a perception that the existing affordable housing stock is sufficient given the neighborhood's changing demographics.
Over-The-Rhine's LIHTC-funded affordable housing inventory covers a significant portion of the neighborhood's estimated housing stock. The long history of LIHTC development in the area, from 1988 to 2014, has created a diverse range of affordable units. However, recent years have seen significant demographic changes, including population growth, rising incomes, and shifts in racial composition. These changes coincide with a pause in new LIHTC developments since 2014, highlighting the complex interplay between affordable housing initiatives and neighborhood demographics.
