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Austintown's Modest Affordable Housing Inventory: LIHTC Impact in an Ohio Community
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Austintown, Ohio, maintains a minimal Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city possesses 2 total units in LIHTC-funded projects, with 1 unit designated as low-income. Based on the 2022 population of 31,926 and an estimated 12,232 housing units, LIHTC-funded affordable housing comprises approximately 0.02% of the city's estimated housing inventory.
Austintown has received $215,328 in project tax credits from the LIHTC program. With one project, this equates to an average federal funding of $215,328 per project. The average federal funding per unit is $107,664. Austintown accounts for 0.05% of the total state funding for LIHTC projects in Ohio.
The Joseph Knight Towers, completed in 2004, represents the city's sole LIHTC-funded affordable housing project. This development has provided affordable housing options in Austintown for nearly two decades. The LIHTC-funded housing in Austintown consists of one one-bedroom unit and one two-bedroom unit, suggesting a focus on accommodating smaller households or individuals.
Austintown's population has experienced a slight decline over the past decade, decreasing from 32,087 in 2013 to 31,926 in 2022. During this period, the median income has shown an overall upward trend, rising from $48,646 in 2013 to $53,661 in 2022, with some fluctuations in between.
The racial composition of Austintown has remained relatively stable, with a slight decrease in the white population from 90% in 2013 to 83% in 2022. There has been a small increase in diversity, with the Black population growing from 5% to 8% and the Hispanic population increasing from 2% to 5% during this period.
The absence of additional LIHTC projects in the last decade may be attributed to the relatively stable population and increasing median income, potentially indicating a reduced need for new affordable housing developments.
Austintown's LIHTC-funded affordable housing inventory is limited, with only one project providing two units, one of which is designated as low-income. This represents a small portion of the city's estimated housing stock. The city has experienced slight demographic changes over the past decade, including a minor population decline and an increase in median income, which may have influenced the lack of new LIHTC projects in recent years.
