OHFA Annual Plan - Ohio Housing Finance Agency

Unmet Housing NeedsOhio Data50 percent Area Median Gross Income (AMGI) in OhioIn Ohio there are 791,429 households renting an apartment who fall under 50 percentAMGI. A one-person household has a pre-tax income of $20,650 per year. A five-personhousehold has a pre-tax income of $31,850 per year. However, of all households in thisrange, over 319,019 households fall under the income level of a one-person size householdincome. In addition, 159,212 one-person households who are 55 years of age or olderfall into this category. In combining these two subpopulations, the total is 478,231 out of791,429. This is 60 percent of the total population that falls into this category.In addition, a total of 779,059 households own their homes. A total of 237,745 arecomprised of a one-person household, and 195,215 are one-person households who are 55year of age or older. Combined that is a total 432,960 out of 779,059. This is a total of 55percent of this subpopulation.When dividing the one-person annual income over a 12-month period, the result is $1,721per month. An Average cost to rent a one-bedroom unit in Ohio is $507 a month. A personat this income level should be able to support themselves without any rental assistanceprogram. However, this does not negate the temporary assistance a person may needin emergencies. Most of the population in this AMGI do not have a “Rainy Day” savingsaccount for emergencies and any temporary loss of income could cause these households tolose their homes.35 percent Area Median Gross Income (AMGI) in OhioIn Ohio there are 548,464 households renting an apartment who fall under 35 percentAMGI. A one-person household has a pre-tax income of $14,455 per year. A five-personhousehold has an income of $22,295 per year. However, of all households in this range, over227,830 households fall under the 1-person size household income. In addition, 114,632one-person households who are 55 years of age or older fall into this category. In combiningthese two subpopulations the total is 342,462 out of 548,464. This is 62 percent of the totalpopulation that falls into this category.In addition, a total of 435,118 households own their home. A total of 148,999 are comprisedof a one-person household and 121,517 are one-person households who are 55 years of ageor older. Combined that is a total 270,516 out of 435,118. This is a total of 62 percent ofthis subpopulation.When averaging the annual income over 12 months, the result is $1,204 per month. Theaverage rent in Ohio remains the same at a cost of $507 per month. At this income levelit is more then half of the monthly income for this household. It is recommend a person toset-aside 30 to 40 percent of their monthly income toward rent. At this income level it putssubstantial pressure on the household to be able to afford this apartment, and many areforced to look for additional income to afford their home.18 percent Area Median Gross Income (AMGI) in OhioIn Ohio there are 271,161 households who renting an apartment who fall under 18 percentAMGI. A one-person household has a pre-tax income of $7,434 per year. A five-personhousehold has a pre-tax income of $11,466 per year. However, of all households in thisrange, over 119,460 households fall under the one-person size household income. In80