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Sidney, Ohio: LIHTC's Impact on Affordable Housing in a Changing Manufacturing City
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Sidney, Ohio, a city with a population of 25,999 as of 2022, has a history rooted in manufacturing and agriculture. The Low-Income Housing Tax Credit (LIHTC) program has contributed to affordable housing in Sidney, funding 241 units, of which 184 are designated as low-income. These LIHTC-funded units represent approximately 2.4% of the city's estimated housing inventory of 9,961 units.
Sidney has received $803,295 in project tax credits through the LIHTC program. This funding is distributed across seven projects, averaging $114,756 per project or $3,333 per unit. The city's share of Ohio's total LIHTC funding is 0.19%, indicating a modest contribution to the state's affordable housing efforts.
The LIHTC program in Sidney spans from 1991, when the first project, Buckeye Avenue, was completed, to 2007, when the most recent project, Countryside Commons, was finished. This 16-year period demonstrates a sustained commitment to affordable housing development. The 1990s were particularly active, with five projects completed during that decade.
The LIHTC-funded housing in Sidney includes a variety of unit types: 15 efficiencies, 4 one-bedroom units, 20 two-bedroom units, 30 three-bedroom units, and 8 four-bedroom units. This distribution suggests an effort to accommodate various household sizes and needs within the affordable housing sector.
Sidney's population has decreased slightly over the past decade, from 27,316 in 2013 to 25,999 in 2022. Despite this decline, the median income has increased from $50,673 in 2013 to $63,633 in 2022, indicating an overall improvement in economic conditions for residents.
The racial composition of Sidney has remained relatively stable, with a slight increase in diversity. The white population has decreased from 91% in 2013 to 88% in 2022, while there have been small increases in other racial groups, particularly in those identifying as two or more races (from 1% to 4%).
No new LIHTC projects have been reported in Sidney since 2007. This could be attributed to various factors, including changes in housing needs, funding priorities, or local economic conditions. The rising median income might suggest a reduced demand for affordable housing, but further analysis would be needed to confirm this hypothesis.
Sidney's LIHTC-funded affordable housing inventory represents a small but significant component of the city's housing stock. The program has provided 241 units over a 16-year period, with the most active development occurring in the 1990s. While the city has experienced a slight population decline and increased median income over the past decade, the racial composition has remained relatively stable with a trend towards increased diversity. The absence of new LIHTC projects since 2007 may warrant further investigation into the current affordable housing needs of the community.
