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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Portsmouth, Ohio, a city on the Ohio River, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 255 total units, with 206 designated as low-income units. This represents approximately 3.35% of the city's estimated 7,610 housing units. The city has received $4,489,784 in project tax credits for affordable housing through the LIHTC program, distributed across approximately 5 projects. The average federal funding per project is $897,957, with an average of $17,607 per unit. Portsmouth's share of Ohio's total LIHTC funding is 1.06%.
The LIHTC program in Portsmouth spans from 1993 to 2019, with the Findlay Street Group being the first project and Scioto Valley Apartments the most recent. The 2010s saw the highest affordable housing activity, with two projects completed. The LIHTC funded housing in Portsmouth offers a range of unit types, including 5 efficiencies, 123 one-bedroom units, 63 two-bedroom units, and 39 three-bedroom units, catering to various household sizes and needs within the low-income population.
Portsmouth's population has declined from 22,889 in 2018 to 19,861 in 2022. Despite this decrease, the median income has increased from $32,719 in 2018 to $35,973 in 2022. The racial composition has remained relatively stable, with a slight decrease in the white population from 90% in 2018 to 86% in 2022, and small increases in the Black, Hispanic, and multiracial populations.
The completion of the Scioto Valley Apartments in 2019 coincides with this period of demographic change, suggesting a continued need for affordable housing despite the population decline. Portsmouth's LIHTC funded affordable housing inventory represents a significant investment in addressing low-income housing needs. The 255 units, while covering only a small percentage of the city's estimated housing stock, provide crucial housing options for low-income residents.
The city's consistent engagement with the LIHTC program over nearly three decades demonstrates an ongoing commitment to affordable housing. As Portsmouth continues to experience demographic shifts, including population decline and slight increases in diversity and median income, the role of LIHTC funded housing remains important in maintaining housing accessibility for low-income residents.