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Affordable Housing in Calhoun, Georgia: LIHTC Program's Impact on a Growing City
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Calhoun, Georgia, has a notable presence of affordable housing funded through the Low-Income Housing Tax Credit (LIHTC) program. The city's LIHTC-funded affordable housing inventory consists of 328 total units, with 206 designated as low-income units. Based on the estimated housing inventory of 12,419 units, the LIHTC-funded affordable housing represents approximately 2.64% of the city's housing stock.
Calhoun has received $706,070 in project tax credits through the LIHTC program. With approximately 8 projects, this translates to an average of $88,259 in federal funding per project. The average federal funding per unit is $2,153. Calhoun holds 0.21% of the total state LIHTC funding, indicating its relative share of affordable housing resources within Georgia.
The city's involvement with LIHTC-funded affordable housing spans over a decade. The earliest recorded project, "Calhoun Afford Housing," was completed in 2001, while the most recent addition, "Cherokee Mill Lofts," was finished in 2014. This 13-year period demonstrates a consistent commitment to affordable housing development in the city.
The first decade of the 2000s saw the most affordable housing activity, with six out of eight projects completed during this time. Notable projects from this period include "Tift/Catoosa Senior" (2003) and "Forest Heights Apts" (2005). The LIHTC-funded housing in Calhoun offers a diverse range of unit types. Out of the 328 total units, there are 101 one-bedroom units, 89 two-bedroom units, and 35 three-bedroom units. This distribution caters to various household sizes and needs within the low-income population.
Over the past decade, Calhoun has experienced modest population growth, increasing from 30,500 in 2013 to 32,414 in 2022. The median income has also shown an upward trend, rising from $41,575 in 2013 to $47,176 in 2022. This increase in income could potentially impact the demand for affordable housing. Racial demographics have remained relatively stable, with a slight increase in the Hispanic population from 19% in 2013 to 22% in 2022. The white population has maintained a majority at around 69-70% throughout this period.
Calhoun's LIHTC-funded affordable housing inventory represents a small but significant portion of its housing stock. The city has consistently developed affordable housing projects over more than a decade, with a focus on diverse unit types to accommodate different household sizes. While the population and median income have grown moderately, the racial composition has remained relatively stable. These demographic trends, coupled with the consistent development of LIHTC projects, suggest an ongoing commitment to addressing affordable housing needs in the community.
