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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 37919 in Knoxville, Tennessee, contains a significant number of Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. The area has 579 total units in LIHTC-funded projects, with 363 designated as low-income units. This inventory represents approximately 5.1% of the zip code's estimated 11,373 housing units, based on the 2022 population of 29,683.
The LIHTC projects in zip code 37919 have received $2,367,038 in project tax credits, averaging about $4,087 in federal funding per unit. This zip code accounts for 0.52% of Tennessee's total LIHTC funding, indicating a notable concentration of affordable housing investment in the area.
Affordable housing has been present in this zip code since at least 1996, with the earliest projects being Prestwick Ridge Apartments and Grand House II. The most recent projects, Westview Towers Apartments and Sutherland View Apartments, were completed in 2007, spanning over a decade of affordable housing development.
The 2000s saw the most affordable housing projects completed in this zip code, with four out of six projects built during this decade. The inventory includes a diverse mix of unit types, with 108 efficiencies, 136 one-bedroom units, 146 two-bedroom units, and 147 three-bedroom units, catering to various household sizes and needs.
Over the past decade, zip code 37919 has experienced a gradual increase in population, rising from 26,860 in 2016 to 29,683 in 2022. Median income has also shown an upward trend, increasing from $74,113 in 2016 to $85,760 in 2022, with a peak of $99,349 in 2021. Despite these economic improvements, the presence of LIHTC projects suggests an ongoing need for affordable housing in the area.
The racial composition of zip code 37919 has remained relatively stable, with a predominantly white population (around 84-86% throughout the decade). There has been a slight increase in diversity, with small increases in Asian, Hispanic, and multi-racial populations. This demographic stability may have influenced the consistent need for affordable housing options in the area.
Zip code 37919 in Knoxville, Tennessee, has a well-established LIHTC-funded affordable housing inventory, representing about 5.1% of the estimated housing stock. The area has seen consistent investment in affordable housing over more than a decade, with projects catering to various household sizes. Despite rising median incomes and a stable population, the presence of these LIHTC projects indicates an ongoing commitment to maintaining affordable housing options in this community.