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Zanesville's LIHTC-Funded Affordable Housing: A Two-Decade Commitment
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zanesville, Ohio, a city with origins in the early 19th century, possesses a diverse Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city contains 455 total units in LIHTC-funded projects, with 435 designated as low-income units. Based on an estimated housing inventory of 12,219 units, LIHTC-funded affordable housing comprises approximately 3.7% of the city's housing stock.
Zanesville has received $1,416,583 in project tax credits from the LIHTC program. With approximately 10 projects, this equates to an average of $141,658 in federal funding per project, or $3,114 per unit. The city holds 0.33% of Ohio's total LIHTC funding, representing a small but significant portion of the state's affordable housing efforts.
The first LIHTC projects in Zanesville, Abington and Brown Street Project, were completed in 1991, while the most recent project, Coopermill Manor, was finished in 2015. This 24-year span demonstrates a sustained commitment to affordable housing in the city. The 1990s experienced the most affordable housing activity, with four projects completed during that decade.
The LIHTC-funded housing inventory in Zanesville includes a range of unit types. Out of the 455 total units, there are 20 efficiencies, 148 one-bedroom units, 172 two-bedroom units, 57 three-bedroom units, and 26 four-bedroom units. This distribution accommodates various household sizes and needs within the community.
Over the past decade, Zanesville's population has remained relatively stable, fluctuating between 30,000 and 32,000 residents. The median income has shown an upward trend, increasing from $32,376 in 2013 to $41,319 in 2022. This rise in median income may influence the demand for affordable housing.
Racial demographics have remained consistent, with the white population comprising the majority at approximately 84-85% throughout the decade. There has been a slight increase in diversity, with minor growth in Hispanic, Asian, and multi-racial populations.
The last LIHTC project in Zanesville was completed in 2015. Since then, the stable population and increasing median income may have reduced the immediate need for additional LIHTC-funded housing. However, other affordable housing programs may be addressing ongoing needs not captured in this data.
Zanesville's LIHTC-funded affordable housing represents a small but significant portion of the city's housing stock. The city has experienced consistent development of affordable housing projects over more than two decades, with a diverse range of unit types to accommodate various household sizes. While recent years have not seen new LIHTC projects, this may be due to changing demographics and economic conditions. The city's affordable housing landscape continues to evolve, reflecting the dynamic nature of urban development and community needs.
