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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Dayton, Tennessee, has incorporated Low-Income Housing Tax Credit (LIHTC) funded affordable housing into its residential landscape. The city's LIHTC inventory comprises 136 low-income units, representing approximately 2.27% of the estimated 5,979 total housing units in Dayton.
Dayton has received $746,603 in project tax credits for affordable housing through the LIHTC program. This funding has been distributed across approximately two projects, resulting in an average federal funding of $373,302 per project and $5,490 per unit. Dayton's LIHTC funding accounts for 0.16% of Tennessee's total LIHTC allocation.
The development of LIHTC funded affordable housing in Dayton spans from 2003 to 2016, encompassing a 13-year period. The initial project, Emerald Pointe Apartments, was completed in 2003, while the most recent development, Hidden Valley Apartments, was finalized in 2016. The 2010s marked the most recent phase of affordable housing development in the city.
The LIHTC funded housing inventory in Dayton is composed of 21 one-bedroom units, 91 two-bedroom units, and 15 three-bedroom units. This distribution indicates a primary focus on accommodating small to medium-sized households.
Dayton's population has remained relatively stable over the past decade, fluctuating between 15,000 and 16,000 residents. The median income has shown a gradual increase from $33,624 in 2013 to $47,374 in 2022, suggesting improving economic conditions. The racial composition has remained predominantly white, with a slight increase in diversity. The Hispanic population has grown from 5% to 6% between 2013 and 2022, while the percentage of residents identifying as two or more races increased from 1% to 4%.
The completion of the Hidden Valley Apartments in 2016 coincides with a period of relative population stability and increasing median income, indicating a continued need for affordable housing despite improving economic indicators.
Dayton's LIHTC funded affordable housing inventory, while modest in scale, provides 136 low-income units to the community. The city has utilized federal funding to develop two projects over a 13-year period, primarily focusing on one and two-bedroom units. Although the LIHTC funded housing covers a small percentage of the estimated housing stock, it represents a consistent effort to address affordable housing needs. The demographic trends demonstrate a stable population with gradually improving economic conditions, which may influence future affordable housing development strategies in Dayton.