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Chillicothe's Affordable Housing: Recent LIHTC Projects in Ohio's First Capital
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Chillicothe, a city with historical significance as Ohio's first and third capital, has implemented affordable housing initiatives through the Low-Income Housing Tax Credit (LIHTC) program. This program has funded 75 affordable housing units in the city, all of which are designated as low-income units. These units represent approximately 0.76% of Chillicothe's estimated total housing inventory of 9,892 units.
The LIHTC program has allocated $1,200,413 in project tax credits to Chillicothe. This funding has been distributed across two projects, resulting in an average of $600,207 in federal funding per project. When calculated on a per-unit basis, this equates to $16,006 in federal funding per unit. Chillicothe's share of the total state LIHTC funding stands at 0.28%.
The development of LIHTC-funded affordable housing in Chillicothe occurred between 2018 and 2020. The initial project, Quinn Court, was completed in 2018, while the most recent project, Paint Creek Station, was finalized in 2020. This period marks the most active phase of affordable housing development in the city, with both projects completed within the 2020s decade.
The affordable housing inventory in Chillicothe comprises 75 units, distributed as follows: 5 one-bedroom units, 33 two-bedroom units, and 28 three-bedroom units. This distribution indicates an effort to accommodate diverse household sizes and compositions.
Chillicothe's population has remained relatively stable over the past decade, with minor fluctuations. The median income has demonstrated an overall upward trend, increasing from $35,738 in 2013 to $50,034 in 2022. This rise in median income may have influenced the demand for affordable housing options.
The racial composition of Chillicothe has experienced slight changes. The white population has decreased from 88% in 2013 to 84% in 2022. Concurrently, there has been a small increase in the Black population, rising from 5% to 8% during the same period. The Hispanic population has remained consistent at approximately 1-2%.
Chillicothe's LIHTC-funded affordable housing inventory, while modest in scale, represents a recent initiative to address the housing needs of low-income residents. The two projects completed in 2018 and 2020 have contributed 75 units to the city's housing stock, offering a range of unit sizes to accommodate various household structures. The city's proportion of state LIHTC funding and the recent nature of these developments indicate an ongoing commitment to affordable housing. As Chillicothe's demographics continue to evolve, particularly with increasing median incomes, the role of affordable housing in maintaining a diverse and inclusive community remains important.
