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Affordable Housing in Snellville: LIHTC Funding and Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Snellville, Georgia, a city with a population of 49,559 as of 2022, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 71 units. These units are all designated as low-income units. Based on the estimated housing inventory of 18,988 units, the LIHTC-funded affordable housing comprises approximately 0.37% of the city's housing stock.
Snellville has received $506,645 in project tax credits from the LIHTC program for affordable housing. With one project, this translates to an average federal funding of $506,645 per project. The average federal funding per unit is $7,136. Snellville holds 0.15% of the total state funding for LIHTC projects in Georgia.
The city's LIHTC-funded affordable housing project, Park West, was completed in 2018. This represents the beginning of LIHTC-funded affordable housing in Snellville, with the 2010s being the decade with the only affordable housing project completed. The affordable housing units in Snellville consist of 9 two-bedroom units and 62 three-bedroom units. This distribution suggests a focus on accommodating families or households requiring multiple bedrooms.
Over the last decade, Snellville has experienced steady population growth, increasing from 41,157 in 2010 to 49,559 in 2022. The median income has fluctuated but generally remained high, ranging from $76,262 to $84,887 between 2013 and 2022.
The racial demographics of Snellville have shifted significantly. The Black population increased from 34% in 2013 to 40% in 2022, while the White population decreased from 53% to 33% during the same period. The Hispanic population grew from 7% to 14%, and the Asian population increased from 3% to 10%. The introduction of LIHTC-funded affordable housing in 2018 coincides with these demographic shifts, potentially responding to the changing needs of the community as it became more diverse.
Snellville's LIHTC-funded affordable housing inventory, while modest in size, represents a recent addition to the city's housing stock. The single project, Park West, provides 71 low-income units, focusing on larger family-sized apartments. The city's changing demographics, including increased diversity and population growth, may have influenced the need for affordable housing options. While the LIHTC-funded units cover a small percentage of the city's estimated housing inventory, they represent a step in addressing affordable housing needs in Snellville.
