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Sandusky's LIHTC Affordable Housing: A Long-Term Commitment Amidst Demographic Changes
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Sandusky, Ohio, a city located on Lake Erie, has a notable Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city contains 417 total units in LIHTC-funded projects, with 318 of these designated as low-income units. Based on an estimated housing inventory of 10,721 units, LIHTC-funded affordable housing comprises approximately 3.9% of the city's housing stock.
Sandusky has received $751,080 in project tax credits for affordable housing through the LIHTC program. With five projects, this equates to an average of $150,216 in federal funding per project, or $1,801 per unit. Sandusky holds 0.18% of Ohio's total LIHTC funding.
The city's LIHTC-funded affordable housing development spans from 1991 to 2014. The initial projects, Sandusky Apartments and Muirwood Phase I, were completed in 1991. The most recent project, Rieger Hotel, was finished in 2014. The 2000s witnessed the most activity, with three projects completed: Viewpoint Apartments (2006), Harborview Apartments (2008), and Rieger Hotel (2014).
The LIHTC-funded housing in Sandusky primarily consists of one-bedroom units, with 207 such units out of the total 417. There are also 9 efficiency units and 1 two-bedroom unit. This distribution indicates a focus on housing for individuals or small households.
Over the past decade, Sandusky's population has decreased slightly, from 28,978 in 2014 to 27,981 in 2022. Despite this decline, the median income has increased from $40,995 in 2014 to $46,608 in 2022, suggesting some economic improvement. The racial composition has remained relatively stable, with a slight decrease in the white population (from 71% to 65%) and small increases in Hispanic (5% to 7%) and multi-racial (2% to 5%) populations.
The absence of new LIHTC projects since 2014 may be related to the slight population decline and increasing median income, potentially indicating a reduced need for additional affordable housing units during this period.
Sandusky's LIHTC-funded affordable housing inventory represents a small but significant portion of its housing stock. The city has utilized LIHTC funding to create a range of affordable housing options over more than two decades, with a focus on one-bedroom units. While demographic trends show a slight population decline and income increase in recent years, the existing LIHTC projects continue to provide important affordable housing options for Sandusky's residents.
