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Affordable Housing Scarcity in Zip Code 43212: A Decade of Growth and Limited LIHTC Development
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The zip code 43212 in Columbus, Ohio, located in the University District, presents a unique case of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. This area, situated near The Ohio State University, contains one LIHTC-funded affordable housing unit, which is also designated as a low-income unit. As of 2022, the zip code had a population of 21,044 and an estimated 8,063 housing units, with the single LIHTC-funded affordable unit representing 0.01% of the estimated housing inventory.
The LIHTC program has allocated $876,970 in tax credits to projects in this zip code, accounting for 0.21% of the total LIHTC funding for Ohio. Two LIHTC-funded projects have been completed in this zip code: "Commons At Third" in 2012 and "CHN University District" in 2014, indicating the presence of affordable housing initiatives for at least a decade. The 2010s saw the most LIHTC project completions in this zip code.
The single affordable housing unit in this zip code is an efficiency apartment, typically catering to single individuals or couples without children, which may align with the demographics of a university-adjacent area.
Over the past decade, the 43212 zip code has experienced significant demographic shifts. The population increased from 16,728 in 2013 to 21,044 in 2022, a 25.8% growth. Median income in the zip code rose from $72,215 in 2013 to $86,062 in 2022, a 19.2% increase. Racial demographics remained relatively stable, with a slight decrease in the white population from 89% in 2013 to 83% in 2022, and small increases in other racial groups. The Hispanic population grew from 3% to 4% during this period.
The 43212 zip code in Columbus, Ohio, presents a unique case in terms of LIHTC-funded affordable housing. Despite receiving a significant amount of LIHTC funding, the area currently has only one affordable housing unit. This limited inventory contrasts with the zip code's growing population and rising median income over the past decade. The demographic trends, particularly the increase in median income, may partially explain the limited expansion of affordable housing in recent years. However, the continued population growth suggests that housing needs in the area are evolving, which may influence future affordable housing initiatives.
