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Affordable Housing in Greenbrier: A Decade of LIHTC Impact
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Greenbrier, a town in Tennessee, possesses a modest Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The town has 12 affordable housing units, all of which are designated as low-income units. These units represent approximately 0.41% of the town's estimated 2,895 housing units, based on the 2022 population of 7,556.
Greenbrier has received $491,625 in project tax credits through the LIHTC program. With one project, this translates to an average federal funding of $491,625 per project and $40,968.75 per unit. Greenbrier holds 0.11% of Tennessee's total LIHTC funding allocation.
The sole LIHTC project in Greenbrier is Ridgewood Apartments, completed in 2012. This project marks the inception of LIHTC-funded affordable housing in the town. The project consists of 12 units, including eight two-bedroom units and four three-bedroom units.
Over the past decade, Greenbrier's population has grown modestly from 7,419 in 2013 to 7,556 in 2022. The median income has generally increased from $62,350 in 2013 to $71,880 in 2022. The racial composition of Greenbrier has remained predominantly white, though there has been a slight increase in diversity. The percentage of white residents decreased from 96% in 2013 to 91% in 2022, with small increases in Asian, Hispanic, and multiracial populations.
Despite these demographic changes, there have been no new LIHTC projects since 2012. This could be attributed to various factors, including the relatively high median income and stable population growth, which might indicate a lower demand for additional affordable housing units.
Greenbrier's LIHTC-funded affordable housing inventory consists of a single project, Ridgewood Apartments, providing 12 low-income units. This represents a small portion of the town's estimated housing stock. The town has experienced modest population growth and income increases over the past decade, with slight changes in racial diversity. These demographic trends, combined with the lack of new LIHTC projects since 2012, suggest a relatively stable housing market in Greenbrier, though ongoing monitoring of affordable housing needs would be prudent as the town continues to evolve.
