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Elyria, Ohio: LIHTC Affordable Housing Analysis Over Two Decades
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Elyria, Ohio has a significant history in affordable housing development through the Low-Income Housing Tax Credit (LIHTC) program. The city's LIHTC-funded affordable housing inventory comprises 681 total units, with 158 specifically designated as low-income units. This represents approximately 2.95% of the city's estimated housing inventory of 23,113 units.
Elyria has received $3,935,519 in project tax credits for affordable housing through the LIHTC program. With approximately 9 projects, this equates to an average of $437,280 in federal funding per project. The average federal funding per unit is $5,779. Elyria holds 0.93% of Ohio's total LIHTC funding, indicating a substantial contribution to the state's affordable housing efforts.
The city's involvement in affordable housing spans over two decades. The earliest recorded project, Park Meadow V, was completed in 1997, while the most recent, Chadwick Place Apartments, was finished in 2019. The 2010s saw the most affordable housing activity, with five projects completed during this decade. Notable projects from this period include Midview Crossing Apartments (2014), Arlington Square Apartments (2018), and The Cottages At Riverview (2018).
Elyria's LIHTC-funded housing stock is diverse, featuring 80 one-bedroom units, 444 two-bedroom units, 126 three-bedroom units, and 4 four-bedroom units. This distribution indicates a focus on accommodating various household sizes, with a particular emphasis on two-bedroom units.
Over the past decade, Elyria's population has shown a slight decline, decreasing from 61,624 in 2014 to 60,324 in 2022. Despite this population decrease, the median income has risen from $46,558 in 2014 to $47,374 in 2022, indicating a modest improvement in economic conditions.
Racial demographics have remained relatively stable, with a small decrease in the white population (from 77% in 2014 to 72% in 2022) and slight increases in Hispanic (5% to 9%) and multi-racial (4% to 6%) populations. The black population has remained consistent at around 12-13%.
Elyria's LIHTC-funded affordable housing inventory represents a small but significant portion of its housing stock. The city has maintained a steady commitment to affordable housing development over the past two decades, with a particular focus in the 2010s. Rising median incomes and shifts in racial demographics suggest changing housing needs that may influence future affordable housing initiatives.
