Program Evaluation

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Ohio Housing Trust Fund

For more than 30 years, the Ohio Housing Trust Fund has helped low-income Ohioans access safe and affordable housing. Since 1991, Trust Fund programs helped 1.9 million Ohioans find housing stability. The fund provides grants and loans for a wide range of housing and homelessness related activities, including the development and preservation of affordable housing, supporting service provision agencies for those experiencing homelessness, providing access to resources for low-income households to complete home repairs and connecting older adults with resources that allow them to age in place. This page highlights the projects that have been built using Trust Fund and the economic impact that these projects have had on the state and its communities.

OHFA Projects Receiving OHTF Awards, 2011-2016

Lease Purchase

Homeownership and Foreclosure

Down Payment Assistance and Mortgage Performance

One of the primary obstacles that often prevent renter households from becoming homeowners is lack of financial resources (upfront capital) to cover the down payment and closing costs associated with home purchase. With this in mind, many affordable mortgage programs include some form of downpayment and/or closing cost assistance to help offset the burden to the prospective homebuyer, who would otherwise quality for mortgage financing. These "downpayment assistance" programs take various forms, from grants, to forgivable non-amortizing loans, to low interest rate second mortgages. A concern associated with downpayment assistance programs is that homebuyers who require such assistance to purchase a home may not have the financial resources to sustain homeownership when faced with unexpected costs of being a homeowner, or, that because they have less invested up front, such homebuyers may be more likely to walk away from their property if they face financial hardship. In either case, an expected outcome might be increased mortgage delinquency and foreclosure for homebuyers receiving such assistance. This research project evaluates the loan performance of low and moderate income homebuyers receiving different forms of downpayment assistance in OHFA's First Time Homebuyer Program, to identify factors that are more or less likely to lead to poor loan performance for borrowers receiving downpayment assistance.

Housing Tax Credit Program

Analysis Compares Ohio HTC Residents to National Counterparts

This brief highlights demographic information on Ohio's LIHTC project residents from 2015 to 2017. Data on residents' income, race and ethnicity, and housing assistance receipt are based on OHFA internal tenant data, which is collected annually from property managers. Ohio specific findings are compared to the nationally-focused blog entry published by Novogradac in March 2018; their Notes from Novogradac blog post aggregated data from HUD's annual report, "Understanding Whom the LIHTC Serves," which provides basic characteristics of LIHTC project residents by state. Due to a lag in HUD analysis, OHFA data are two years more current (2015-2017) than HUD data (2013-2015).

Key findings show that overall, LIHTC tenants in Ohio are poorer, less racially and ethnically diverse, and more likely to have a housing voucher than their counterparts nationally. This underscores the continued need for affordable housing in Ohio, which has been documented in the Ohio Housing Needs Assessment.

The Economic Impact of the Housing Tax Credit Program in Ohio: Income, Jobs and Taxes Generated

The National Association of Home Builders (NAHB) was commissioned to estimate the short and long-term direct, indirect, induced, and total economic effects of the Housing Tax Credit Program in terms of employment, tax revenue, and the value added to Ohio's state and local economy. In particular, OHFA asked NAHB to estimate the impacts of 4,608 units of new construction and rehabilitation of existing structures that were cost certified in 2011 and 2012. The NAHB model captures the effect of the construction activity itself and the ripple impact that occurs when income earned from construction activity is spent and recycled in the state.