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Affordable Housing in Greenfield, Indiana: Three Decades of LIHTC Development
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Greenfield, Indiana, founded in 1828, has utilized the Low-Income Housing Tax Credit (LIHTC) program to provide affordable housing. The city's LIHTC-funded inventory comprises 453 low-income units, representing 4.03% of Greenfield's estimated 11,231 housing units based on 2022 population data and national average household size.
Greenfield has received $4,638,469 in LIHTC project tax credits, averaging $579,809 per project and $10,240 per unit across approximately 8 projects. This allocation represents 1.08% of Indiana's total LIHTC funding. The program's support spans over three decades, with the first project, Greenfield Village, completed in 1989 and the most recent, Broadway Flats, finished in 2019.
The 2010s marked significant growth in LIHTC-funded housing, with five projects completed during this period. Notable developments include Prairie Meadows Apartments, Stonehurst Pointe, and Reflections At Bluestone Seniors Housing Campus I. The LIHTC-funded housing in Greenfield offers diverse unit types, including 16 efficiencies, 106 one-bedroom units, 193 two-bedroom units, and 8 three-bedroom units.
Greenfield's population has grown steadily, increasing from 26,910 in 2015 to 29,314 in 2022. This growth may have contributed to the continued development of LIHTC projects to meet rising housing demands. The median income has fluctuated but generally trended upward, rising from $67,396 in 2015 to $67,085 in 2022, potentially indicating a sustained need for affordable housing options.
Racial demographics in Greenfield have remained relatively stable, with the white population consistently comprising around 95% of residents. However, a slight increase in diversity has been observed, with small growth in Asian, Hispanic, and multiracial populations. This gradual shift may influence future affordable housing needs and project planning.
Greenfield's LIHTC-funded affordable housing inventory plays a significant role in addressing the city's housing needs. The 453 low-income units across 8 projects demonstrate consistent support for affordable housing over three decades. The city's share of state LIHTC funding and the diverse range of unit types indicate a committed approach to affordable housing development. As Greenfield continues to grow and evolve demographically, ongoing analysis and adaptation of affordable housing strategies will be essential to meet the changing needs of its residents.
