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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Buena Vista Heights, a neighborhood in Nashville-Davidson metropolitan government, Tennessee, contains 10 affordable housing units funded by the Low-Income Housing Tax Credit (LIHTC) program. These units, all designated as low-income, represent approximately 0.9% of the neighborhood's estimated 1,113 housing units, based on the 2022 population of 2,906.
The LIHTC projects in Buena Vista Heights have received $35,233 in tax credits, averaging $3,523 per unit. The neighborhood's LIHTC-funded affordable housing dates back to 1988, with four projects: Southside II, Southside II - Nubell St, Southside I, and 14th Ave N Duplex. All these projects were completed in 1988, indicating a significant period for affordable housing development in the area.
The LIHTC-funded housing inventory in Buena Vista Heights includes 6 two-bedroom units and 2 three-bedroom units, suggesting a focus on accommodating small to medium-sized families. None of the projects have a specified target population, indicating they may serve a general low-income demographic.
Buena Vista Heights has experienced population fluctuations over the past decade, with a peak of 3,371 residents in 2018 and a decline to 2,906 by 2022. The median income has increased significantly, rising from $20,830 in 2013 to $37,969 in 2022, representing an 82% growth over this period.
The neighborhood's racial composition has undergone notable changes. The Black population, while remaining the majority, decreased from 93% in 2014 to 76% in 2022. The White population increased from 2% to 22% during the same period. The Hispanic population grew from 0% to 2% between 2019 and 2022.
Despite these demographic shifts and income growth, there have been no new LIHTC projects in Buena Vista Heights since 1988. This lack of recent affordable housing development may be attributed to the rising median income, potentially reducing the perceived need for additional low-income housing in the area.
Buena Vista Heights has a modest LIHTC-funded affordable housing inventory, all developed in 1988. While this represents less than 1% of the estimated housing stock, other affordable housing programs may contribute to the neighborhood's overall affordable housing supply. The area has experienced significant demographic changes over the past decade, including substantial income growth and shifts in racial composition. These changes may have influenced the lack of new LIHTC developments in recent years. Ongoing assessment of affordable housing needs will be crucial to ensure a balanced community for all residents.