The neighborhood's LIHTC-funded affordable housing is represented by a single project, Cherry Ridge Village Apartments, completed in 2014. This project marks the inception of LIHTC-funded affordable housing in Smithfield Estates, based on the available data. Cherry Ridge Village Apartments offers a balanced mix of unit types, with 28 one-bedroom and 28 two-bedroom units. This distribution accommodates various household sizes and needs within the low-income population.

Over the past decade, Smithfield Estates has experienced demographic shifts. The population peaked in 2016-2017 at approximately 5,000 residents but has since declined to 4,025 in 2022. Despite this population decrease, median income has generally trended upward, rising from $54,712 in 2013 to $69,013 in 2022, with a peak of $81,725 in 2021.

Racial demographics have remained relatively stable, with the Black population consistently representing the majority (around 80-88%) throughout the decade. There has been a slight increase in diversity, with small increases in Hispanic, Asian, and multi-racial populations.

The completion of Cherry Ridge Village Apartments in 2014 coincides with a period of population growth and rising median incomes in the neighborhood. This suggests that the LIHTC project may have been a response to growing housing needs in an improving economic environment.

Smithfield Estates' LIHTC-funded affordable housing, while modest in scale, provides an important housing resource for low-income residents. The Cherry Ridge Village Apartments project, completed in 2014, offers 56 units of affordable housing, representing about 3.6% of the estimated housing inventory. With an average federal investment of $11,473 per unit, this project demonstrates a commitment to affordable housing in the area.

The neighborhood has experienced demographic changes over the past decade, including population fluctuations and generally rising median incomes. Despite these changes, the racial composition has remained relatively stable, with a predominantly Black population. The LIHTC project's completion in 2014 aligns with a period of population growth and economic improvement in the neighborhood, suggesting a timely response to evolving housing needs.

While the current LIHTC inventory falls short of ideal affordable housing targets, it provides a foundation for addressing low-income housing needs in Smithfield Estates. Further analysis of other affordable housing programs and ongoing demographic trends would be beneficial for a comprehensive understanding of the neighborhood's affordable housing landscape.