Affordable Housing Analysis in Zip Code 37763: Kingston's LIHTC Inventory Since 1987
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
DATA SOURCE
Zip code 37763 in Kingston, Tennessee, has a unique Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. This zip code contains 4 affordable units, all of which are designated as low-income units. Based on the 2022 population of 16,328 and an estimated 6,256 housing units, the LIHTC funded affordable housing covers approximately 0.06% of the estimated housing inventory in this zip code.
The LIHTC program has invested $47,870 in tax credits for affordable housing projects in zip code 37763. This equates to an average federal funding of $11,967.50 per unit. This zip code accounts for 1% of the total LIHTC funding allocated to the state of Tennessee. The affordable housing in this zip code has been present since 1987, with the completion of the Kingston Four Apts Phase II project. This project represents the entirety of LIHTC funded affordable housing in the area, demonstrating over three decades of affordable housing presence.
The housing units in this LIHTC project are evenly distributed between one-bedroom and two-bedroom units, with two units of each type. This distribution provides options for both individuals and small families in need of affordable housing.
Over the past decade, the population in zip code 37763 has increased slightly, growing from 15,108 in 2013 to 16,328 in 2022. The median income has also risen, from $58,125 in 2013 to $66,048 in 2022, indicating a gradual improvement in economic conditions. The racial distribution has remained relatively stable, with the white population consistently representing the majority at approximately 93-94% throughout the decade. There have been slight increases in diversity, with small increases in the Black, Hispanic, and multiracial populations.
Zip code 37763 in Kingston, Tennessee, has a small but long-standing LIHTC funded affordable housing presence, dating back to 1987. The affordable housing inventory covers only a fraction of the estimated housing units but provides a mix of one-bedroom and two-bedroom units to serve different household sizes. The area has experienced moderate population growth and income increases over the past decade, with a relatively stable racial composition. This analysis provides insight into the LIHTC program's contribution to affordable housing in this specific zip code. Other housing programs may also contribute to the overall affordable housing landscape in the area.