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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Bond Hill, a neighborhood in Cincinnati, Ohio, has a substantial presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory comprises 1,429 total affordable units, all of which are designated as low-income units. Based on the estimated housing inventory of 4,141 units for the neighborhood's 2022 population, LIHTC funded affordable housing accounts for approximately 34.5% of Bond Hill's housing stock. This percentage indicates that LIHTC funded affordable housing plays a significant role in the neighborhood's housing landscape.
The LIHTC program has invested $1,332,201 in tax credits for affordable housing projects in Bond Hill. This equates to an average federal funding of approximately $932 per unit. The neighborhood has had LIHTC funded affordable housing projects since 1999, beginning with the completion of Huntington Meadows Apartments. The most recent project, Glen Meadows Apartments, was completed in 2003, indicating at least four years of affordable housing development in the area.
The early 2000s saw the most affordable housing activity in Bond Hill, with Glen Meadows Apartments adding to the neighborhood's affordable housing stock. The LIHTC funded projects in Bond Hill offer a range of unit types, including 129 one-bedroom units, 112 two-bedroom units, and 22 three-bedroom units, accommodating various household sizes and needs.
Over the past decade, Bond Hill's population has shown slight fluctuations, with a general upward trend from 10,255 in 2015 to 10,807 in 2022. The median income has increased from $33,240 in 2015 to $41,496 in 2022, indicating some economic improvement in the neighborhood.
Racial demographics have remained relatively stable, with the Black population consistently representing the majority at approximately 71-74% of the neighborhood's residents. The White population has maintained a presence of about 22-24% throughout the decade. There has been a slight increase in racial diversity, with small but growing percentages of Asian, Hispanic, and multi-racial residents.
Despite the absence of new LIHTC projects in the last decade, the existing affordable housing stock continues to serve a significant portion of the neighborhood's population. The stable demographic trends and gradual income increase suggest that the current affordable housing inventory may be meeting a substantial part of the community's needs.
Bond Hill's LIHTC funded affordable housing inventory represents a significant portion of the neighborhood's estimated housing stock, covering about 34.5% of units. The neighborhood has benefited from federal investment in affordable housing, with projects dating back to 1999. The existing LIHTC projects offer a range of unit sizes, catering to diverse household needs. While no new LIHTC projects have been developed in the last decade, the neighborhood has experienced slight population growth, increased median income, and maintained relatively stable racial demographics. These factors suggest that the existing affordable housing stock continues to play a crucial role in meeting the community's housing needs, though ongoing assessment of affordable housing requirements would be beneficial for future planning.