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Fairborn, Ohio: Affordable Housing Through LIHTC and Population Growth
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Fairborn, Ohio, situated near Wright-Patterson Air Force Base, has a notable presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The city's LIHTC inventory consists of 584 total units, with 583 designated as low-income units. This represents approximately 3.6% of the city's estimated housing stock of 16,109 units.
Fairborn has received $1,755,732 in project tax credits for affordable housing through the LIHTC program. This funding is distributed across approximately 6 projects, resulting in an average federal funding of $292,622 per project and $3,006 per unit. Fairborn's share of the total state LIHTC funding is 0.41%.
The development of LIHTC-funded affordable housing in Fairborn spans from 1989 to 2004, covering a 15-year period. The initial project, Evergreen Park Apartments, was completed in 1989, while the most recent, Landmark Village Apartments, was finished in 2004. The 1990s were the most active period, with four out of six projects completed during this decade.
Fairborn's LIHTC inventory includes a range of unit types: 4 efficiencies, 88 one-bedroom, 181 two-bedroom, 154 three-bedroom, and 33 four-bedroom units. This distribution indicates accommodation for various household sizes, with a focus on two- and three-bedroom units.
Fairborn's population has grown steadily over the past decade, increasing from 40,608 in 2015 to 42,044 in 2022, representing a 3.5% growth. The median income has risen significantly, from $50,481 in 2015 to $63,656 in 2022, a 26% increase. These demographic changes may influence the demand for affordable housing.
Racial demographics in Fairborn have remained relatively stable, with the white population consistently representing about 80% of the total. There has been a slight increase in diversity, with the percentage of residents identifying as two or more races growing from 3% in 2015 to 6% in 2022.
No new LIHTC projects have been recorded in Fairborn since 2004. This could be attributed to various factors, including changes in funding priorities, shifts in housing needs, or the development of affordable housing through other programs not captured in this data.
Fairborn's LIHTC-funded affordable housing inventory represents a small portion of the city's estimated housing stock. The city has utilized federal tax credits to develop a range of affordable housing options over a 15-year period, with the most active development occurring in the 1990s. The city's growing population and rising median income suggest an evolving landscape that may influence future affordable housing needs. The stable racial demographics, with a slight trend towards increased diversity, may also factor into future housing considerations.
