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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Kenton, located in Ohio, has incorporated Low-Income Housing Tax Credit (LIHTC) funded affordable housing into its housing stock. The city's LIHTC inventory consists of 191 low-income units, representing approximately 4.17% of the estimated 4,584 total housing units in the city.
Kenton has received $404,068 in project tax credits through the LIHTC program. This funding is distributed across approximately 6 projects, resulting in an average of $67,345 in federal funding per project and $2,116 per unit. The city's share of Ohio's total LIHTC funding is 0.1%, indicating a modest portion of the state's affordable housing resources.
The implementation of affordable housing through LIHTC in Kenton spans nearly three decades. The first LIHTC project, Morningside Villa, was completed in 1993, while the most recent addition, Kenton Station, was finished in 2012. This 19-year period demonstrates a sustained effort in affordable housing development within the city.
The 1990s were the most active period for affordable housing development in Kenton, with four projects completed during this decade: Morningside Villa (1993), Springbrook Apts (1994), Scioto Village I (1996), and Eagles Point Apts (1999). The LIHTC funded housing in Kenton primarily comprises two-bedroom units, with 93 such units available. Additionally, there are 8 one-bedroom units and 12 three-bedroom units, providing options for various household sizes.
Kenton's population has remained relatively stable over the past decade, fluctuating between 11,800 and 12,300 residents. The median income has shown a consistent increase, rising from $40,355 in 2013 to $53,797 in 2022. This upward trend in income may suggest a reduced need for additional affordable housing units in recent years.
The racial composition of Kenton has remained predominantly white, consistently accounting for 96-97% of the population throughout the 2010s. There has been a slight increase in diversity, with the proportion of residents identifying as two or more races growing from 1% in 2013 to 2-3% in recent years.
In summary, Kenton's LIHTC funded affordable housing inventory provides 191 low-income units across approximately 6 projects, accounting for about 4.17% of the estimated housing stock. The city's affordable housing development through LIHTC has spanned nearly three decades, with the most active period being the 1990s. The housing mix predominantly features two-bedroom units. While the population has remained stable, the rising median income over the past decade may explain the lack of new LIHTC projects since 2012. The city's racial composition has seen minimal changes, maintaining a predominantly white population with a slight increase in multiracial residents.