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Affordable Housing in Hadley-Washington: LIHTC Impact and Demographic Shifts
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CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The Hadley-Washington neighborhood in Nashville-Davidson, Tennessee, has a limited Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. As of 2022, the neighborhood had an estimated population of 4,339 with an approximate housing inventory of 1,662 units. The LIHTC program has funded 2 low-income units in this neighborhood, representing about 0.12% of the estimated housing inventory.
The LIHTC program has provided $6,612 in tax credits for affordable housing in this neighborhood. With 2 total units funded, this averages to $3,306 in federal funding per unit. The only LIHTC-funded project in the neighborhood is Southside II - Georgia Ave, completed in 1988. This project has been providing affordable housing in the area for over three decades. All 2 units in this project are two-bedroom units, catering to small families or individuals needing extra space.
Over the past decade, the neighborhood has experienced demographic shifts. The population has decreased from 4,713 in 2013 to 4,339 in 2022, a decline of about 7.9%. Despite this population decrease, the median income has increased from $20,859 in 2013 to $33,998 in 2022, representing a 63% increase.
The racial composition of the neighborhood has also changed. The Black population, while still the majority, has decreased from 84% in 2013 to 72% in 2022. The White population has increased from 11% to 19% during the same period. The Asian and Hispanic populations have remained relatively stable, each representing about 2-3% of the population.
These demographic changes, particularly the increase in median income, may partially explain why no new LIHTC projects have been developed in recent years. However, other affordable housing programs not captured in this data may be addressing the community's needs.
The Hadley-Washington neighborhood has a single LIHTC-funded project that has been providing affordable housing since 1988. While this project only accounts for a small percentage of the estimated housing inventory, it has been a consistent source of affordable housing for over 30 years. The neighborhood has experienced demographic changes in recent years, including a decrease in population, an increase in median income, and shifts in racial composition. These changes may influence the current and future needs for affordable housing in the area.
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