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Affordable Housing Dominates Westside Chattanooga: A Decade of LIHTC Investment
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The Westside neighborhood of Chattanooga, Tennessee, exhibits a significant concentration of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area contains 364 units in LIHTC-funded projects, with 323 designated as low-income units. Based on the estimated housing inventory of 1,057 units for the neighborhood's 2022 population, LIHTC-funded affordable housing comprises approximately 34.4% of the neighborhood's housing stock.
The LIHTC program has invested $1,031,482 in tax credits for affordable housing projects in the Westside neighborhood. This investment equates to an average federal funding of $2,834 per unit across all LIHTC-funded projects. The neighborhood has maintained a presence of LIHTC-funded affordable housing for over a decade, with the first project, Boynton Overlook, completed in 2004, and the most recent project, Jaycee Tower, finished in 2017.
The 2010s witnessed the most recent affordable housing development activity, with Jaycee Tower being a notable addition to the neighborhood's affordable housing stock. The inventory of LIHTC-funded units in the Westside neighborhood consists of 22 efficiencies, 255 one-bedroom units, and 24 two-bedroom units. This distribution indicates a focus on housing for smaller households or individuals.
Over the past decade, the Westside neighborhood has experienced demographic shifts. The population has increased from 2,170 in 2013 to 2,760 in 2022, suggesting a rising demand for housing. Median income has also increased significantly, from $10,855 in 2013 to $26,497 in 2022, which may impact the need for affordable housing.
Racial demographics have changed, with the Black population decreasing from 77% in 2013 to 69% in 2022, while the White population increased from 11% to 24% over the same period. These shifts may reflect changing neighborhood dynamics and potentially influence future affordable housing needs.
The Westside neighborhood of Chattanooga has a substantial LIHTC-funded affordable housing presence, covering over a third of the estimated housing stock. The area has received consistent investment in affordable housing over more than a decade, with projects primarily serving smaller households. Recent demographic trends, including population growth and increasing median income, may influence future affordable housing needs in the neighborhood. The changing racial composition of the area may also be a factor to consider in future housing policy decisions.
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