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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Youngstown, Ohio, a city with an industrial heritage, has a significant inventory of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The city's LIHTC program encompasses 1,242 total units, with 945 designated as low-income units. Based on the estimated housing inventory of 25,088 units, LIHTC-funded affordable housing covers approximately 4.95% of the city's housing stock.
Youngstown has received $6,865,554 in project tax credits through the LIHTC program. With 38 approximate projects, this translates to an average of $180,672 in federal funding per project. When considering the total units, the average federal funding per unit is $5,528. Youngstown's LIHTC funding represents 1.61% of Ohio's total state funding.
The city's involvement with LIHTC-funded affordable housing began in 1988 with projects like Exodus Apts and Parkwood Apts, and continues to the most recent project, Grovewood Manor, completed in 2019. This 31-year span demonstrates a long-term commitment to affordable housing in Youngstown.
The 1980s and 1990s saw significant affordable housing development, with multiple projects completed each year. Notable projects from this period include Ravenwood (1990) and South Youngstown Homes (1997).
Youngstown's LIHTC-funded housing inventory includes a diverse mix of unit types. The breakdown consists of 108 efficiencies, 314 one-bedroom units, 150 two-bedroom units, 222 three-bedroom units, and 209 four-bedroom units. This distribution caters to various household sizes and needs within the low-income population.
Some projects target specific populations. For instance, Youngstown Choice Homes IV and Eagle Heights Homes I, both completed in the early 2000s, focus on single parents, addressing the unique housing needs of this demographic.
Over the past decade, Youngstown's population has remained relatively stable, with a slight decrease from 66,835 in 2010 to 65,479 in 2019. The median income has shown improvement, rising from $24,767 in 2013 to $29,143 in 2019. This increase in median income might influence the demand for affordable housing.
Racial distribution data from 2019 shows a population composition of 46% White, 41% Black, and 9% Hispanic residents. This diversity underscores the importance of equitable access to affordable housing across different communities.
Youngstown's LIHTC-funded affordable housing inventory represents a significant effort to address low-income housing needs. With 945 low-income units across 38 projects, the program has maintained a consistent presence in the city for over three decades. The diverse unit types and targeted projects for single parents demonstrate an attempt to meet varied housing needs. While the LIHTC-funded units cover nearly 5% of the estimated housing stock, ongoing demographic changes and income trends may continue to shape the demand for affordable housing in Youngstown.