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Affordable Housing Analysis in Zip Code 37216: Nashville-Davidson's LIHTC Inventory
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CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 37216 in Nashville-Davidson, Tennessee, contains a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. This area has 296 total units in LIHTC funded projects, all of which are designated as low-income units. Based on the 2022 population of 19,931 and the national average household size of 2.61, the estimated housing inventory for this zip code is approximately 7,636 units. The LIHTC funded affordable housing covers about 3.9% of the estimated housing units in the zip code.
The LIHTC projects in zip code 37216 have received $1,021,695 in project tax credits, averaging approximately $3,452 per unit. This zip code holds 0.22% of the total state LIHTC funding, indicating a modest but notable contribution to Tennessee's affordable housing efforts.
The first LIHTC projects in this zip code, "909 C&D Thomas Ave" and "Thomas A," were completed in 1987. The most recent project, "Ellington View Apts," was completed in 2005, demonstrating an 18-year span of affordable housing development in the area. The 1980s saw the most affordable housing projects completed, with four out of the six projects finished during this decade.
The LIHTC funded housing in zip code 37216 consists primarily of one-bedroom and two-bedroom units. There are 73 one-bedroom units, 166 two-bedroom units, and 21 three-bedroom units, providing a diverse range of housing options for different household sizes.
Over the past decade, the population in zip code 37216 has remained relatively stable, with a slight increase from 18,717 in 2016 to 19,931 in 2022. The median income has seen significant growth, rising from $56,337 in 2016 to $69,328 in 2022, which may indicate a changing economic landscape in the area.
Racial demographics have shifted slightly, with the white population increasing from 64% in 2016 to 69% in 2022, while the black population decreased from 28% to 19% during the same period. The Asian population has grown from less than 1% to 4%, suggesting increasing diversity in the area.
Zip code 37216 in Nashville-Davidson has a modest LIHTC funded affordable housing inventory, covering approximately 3.9% of the estimated housing units. The area has seen LIHTC project development spanning from 1987 to 2005, with a focus on one-bedroom and two-bedroom units. The population has remained relatively stable over the past decade, with significant income growth and slight shifts in racial demographics. These trends may influence future affordable housing needs and development in the area.
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