Toledo's population decline impacts housing market and cost burden issues

Toledo is facing significant challenges as it prepares its Five-Year Consolidated Plan for 2025-2029. The city, with a population of approximately 260,000, has experienced a steady decline over the past 55 years, losing about one-third of its residents. This demographic shift is accompanied by a notable increase in the senior population, particularly those aged 65 to 74, which has grown by 50% in the last 14 years. This trend raises concerns about housing needs and the future of community services.

The housing landscape in Toledo reveals critical issues, with around 11,000 renters and 6,500 homeowners classified as cost burdened, meaning they spend more than 30% of their income on housing. Alarmingly, over 11,000 renters and more than 5,000 homeowners are severely cost burdened, spending over 50% of their income on housing expenses. This situation poses a significant risk of homelessness, as financial instability can lead to eviction or foreclosure.

The city also grapples with overcrowding, with approximately 1,200 households living in overcrowded conditions. Additionally, about 1,400 households lack basic plumbing or kitchen facilities, highlighting the need for improved housing quality. The data indicates that lower-income households are disproportionately affected by these housing challenges, with nearly 70% of severely cost-burdened households falling into this category.

Another pressing issue is the presence of lead hazards in older homes, particularly those built before 1980. Approximately 15,000 housing units occupied by children under six years old are at risk, prompting ongoing lead hazard remediation efforts by the city.

Vacant properties further complicate Toledo's housing situation, with an estimated 11.6% of properties classified as vacant. The city has been actively working to address blight and reduce vacancy rates through demolition and remediation initiatives.

As Toledo moves forward with its Five-Year Consolidated Plan, addressing these housing challenges will be crucial for improving the quality of life for its residents and fostering a more stable community. The city’s commitment to tackling these issues reflects a proactive approach to reversing population decline and enhancing housing conditions for all citizens.