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Affordable Housing in Greenville, Michigan: Two 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
Greenville, Michigan, maintains a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 248 total units, with 166 designated as low-income units. This inventory comprises approximately 5% of the city's estimated 4,996 housing units, based on the 2022 population of 13,040. The city has received $74,061 in project tax credits through the LIHTC program, distributed across approximately 8 projects. This equates to an average federal funding of $9,258 per project and $299 per unit. Greenville's share of the total state LIHTC funding is 0.03%.
The development of LIHTC projects in Greenville spans an 18-year period, from 1988 to 2006. The first project, Pine Knoll Apartments, was completed in 1988, while the most recent, Pine Manor, was finished in 2006. The early 2000s witnessed the highest activity in affordable housing development, with several projects completed between 2001 and 2006, including Cambridge Court Apartments, Fairway Glen Apartments, Hidden Pines, Fairway Glen II Apartments, and Pine Manor.
LIHTC funded projects in Greenville offer a variety of unit types to accommodate different household sizes within the low-income community. The inventory includes 27 one-bedroom units, 30 two-bedroom units, and 38 three-bedroom units. This diversity in unit sizes allows for a range of living arrangements to meet various needs.
Greenville's population has experienced modest growth over the past decade, increasing from 12,294 in 2019 to 13,040 in 2022. Concurrently, the median income has risen from $46,036 in 2019 to $56,502 in 2022, potentially indicating improved economic conditions for some residents. The racial composition of the city has remained relatively stable, with a slight decrease in the white population from 91% in 2019 to 88% in 2022. Small increases have been observed in the Hispanic (5% in 2022) and multi-racial (4% in 2022) populations, suggesting a gradual diversification of the community.
Greenville's LIHTC funded affordable housing inventory represents a small but significant portion of its estimated housing stock. The city has maintained a consistent development of affordable housing projects from the late 1980s through the mid-2000s, focusing on diverse unit types to accommodate various household sizes. Despite recent population growth and increases in median income, the gradual changes in demographic composition indicate an ongoing need for affordable housing options to serve the community's evolving needs.
