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Trotwood's LIHTC-Funded Affordable Housing: A Two-Decade Journey
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Trotwood, a city in Ohio, has a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city's LIHTC program has contributed 724 total units, with 387 of these designated as low-income units. Based on the 2022 population of 27,315 and using the national average household size, the estimated housing inventory for Trotwood is approximately 10,466 units. The LIHTC-funded units represent about 6.9% of the estimated housing stock, indicating that LIHTC plays a notable role in providing affordable housing options in the city.
Trotwood has received $902,209 in project tax credits through the LIHTC program. With approximately 11 projects, this translates to an average of $82,019 per project. When considering the total 724 units, the average federal funding per unit is about $1,246. Trotwood holds 0.21% of Ohio's total LIHTC funding, suggesting it has a modest share of the state's affordable housing resources.
The city's involvement with LIHTC spans over two decades, from 1989 to 2010. The first project, Homestart I, was completed in 1989, while the most recent, Wingate At Belle Meadows, was finished in 2010. The 1990s saw the most LIHTC activity, with five projects completed during this decade. The LIHTC-funded housing in Trotwood offers a diverse range of unit types. There are 71 one-bedroom units, 362 two-bedroom units, 182 three-bedroom units, and 6 four-bedroom units. This distribution suggests a focus on accommodating families of various sizes.
Over the past decade, Trotwood's population has shown a slight decline, from 28,046 in 2014 to 27,315 in 2022. Despite this, the median income has increased from $32,578 in 2014 to $39,526 in 2022, indicating some economic improvement. The racial composition of Trotwood has remained relatively stable, with a predominant Black population (68% in 2022) and a significant White population (25% in 2022). The percentage of residents identifying as two or more races has increased slightly from 2% in 2014 to 5% in 2022.
It is notable that no new LIHTC projects have been completed since 2010. This could be due to various factors, including changes in local housing needs, funding priorities, or economic conditions. The increasing median income might suggest a reduced demand for new affordable housing projects in recent years.
Trotwood's LIHTC-funded affordable housing inventory represents a significant portion of the city's estimated housing stock. The program has provided a diverse range of unit types, potentially catering to different household sizes and needs. While LIHTC project development has been inactive since 2010, the existing units continue to play a crucial role in the city's affordable housing landscape. The demographic trends, including a slight population decline and increasing median income, may have influenced the recent lack of new LIHTC developments. However, the stable racial composition and the city's continued share of state LIHTC funding suggest an ongoing commitment to maintaining affordable housing options for Trotwood's residents.
