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London, Ohio: A Three-Decade Journey in Affordable Housing Development
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
London, Ohio, founded in 1811, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The city's LIHTC inventory comprises 265 total units, with 211 designated as low-income units. This represents approximately 4.64% of the city's estimated housing stock of 5,712 units.
London has received $1,315,463 in project tax credits through the LIHTC program. With approximately 7 projects, this amounts to an average of $187,923 in federal funding per project, or $4,963 per unit. The city accounts for 0.31% of Ohio's total LIHTC funding, indicating a modest but significant contribution to the state's affordable housing efforts.
Affordable housing has been part of London's landscape for over three decades. The first LIHTC project, Londonerry Apts, was completed in 1988, while the most recent addition, Daines Village Apartments, was finished in 2020. This 32-year span demonstrates a sustained commitment to affordable housing in the city.
The 1980s and 1990s saw the most affordable housing activity, with four projects completed during this period. Notable projects include Mcht 1 (1989), London Apts (1995), and Devonshire Apts II (1997).
The LIHTC-funded housing in London offers a diverse range of unit types. The inventory includes 21 one-bedroom units, 90 two-bedroom units, 63 three-bedroom units, and 7 four-bedroom units, catering to various household sizes and needs.
Over the past decade, London's population has remained relatively stable, fluctuating between 14,500 and 15,000 residents. The median income has shown some variability, ranging from about $60,000 to $71,000. The racial composition of the city has remained predominantly white, consistently above 80%, with a slight increase in diversity noted in recent years.
The completion of the Daines Village Apartments in 2020 aligns with a period of relative economic stability in the city, as indicated by the steady median income figures. This suggests a continued need for affordable housing options despite the overall economic picture.
London, Ohio's LIHTC-funded affordable housing inventory represents a small but important portion of the city's housing stock. The city has maintained a consistent approach to affordable housing development over three decades, with projects spanning from 1988 to 2020. The diverse range of unit types provided through these projects helps meet the varied needs of low-income residents. While the LIHTC-funded units alone may not meet all of the city's affordable housing needs, they form a crucial component of London's housing landscape, contributing to the city's efforts to provide housing options for its diverse population.
