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Fremont, Ohio: LIHTC Affordable Housing Resilience Amid Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Fremont, Ohio, maintains a consistent presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The city's LIHTC inventory comprises 83 low-income units, representing approximately 1.17% of the estimated 7,118 housing units in the city. Fremont has received $353,106 in project tax credits through the LIHTC program, distributed across two projects. This equates to an average of $176,553 in federal funding per project and $4,254 per unit.
Fremont's LIHTC funding accounts for 0.08% of the total state funding allocated to Ohio. The city's LIHTC-funded affordable housing projects, Eagle Manor and Fremont Manor Apartments, were both completed in 1994, indicating a nearly three-decade presence of LIHTC-supported affordable housing. The 1990s marked the most significant period of affordable housing activity in Fremont, with both LIHTC projects being completed during this decade.
Fremont Manor Apartments contributes 38 units to the affordable housing inventory, including 22 two-bedroom and 16 three-bedroom units. This unit distribution suggests a focus on accommodating families or households requiring multiple bedrooms. The consistent presence of these LIHTC projects has played a role in Fremont's housing landscape since the mid-1990s.
Over the past decade, Fremont's population has experienced a gradual decline, decreasing from 19,262 in 2013 to 18,578 in 2022. Despite this population decrease, the median income has shown overall growth, rising from $46,142 in 2013 to $50,394 in 2022. This increase in median income may indicate a changing economic landscape in the city.
The racial composition of Fremont has remained relatively stable over the past decade. The white population has consistently represented the majority, accounting for about 74-75% of the total population. The Hispanic population has maintained a significant presence, averaging around 15-16% of the population. The Black population has remained steady at about 6-7%, while other racial groups have shown minimal changes.
In summary, Fremont's LIHTC-funded affordable housing inventory, while modest in size, has been a consistent part of the city's housing landscape since the mid-1990s. The two projects provide 83 low-income units, primarily catering to families with their mix of two and three-bedroom apartments. Despite a slight population decline, the city has seen an increase in median income over the past decade. The racial composition has remained relatively stable, with a predominant white population and significant Hispanic representation. While the LIHTC projects cover a small percentage of the city's estimated housing stock, they contribute to providing affordable housing options in Fremont.
