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Affordable Housing in Spartanburg: A Three-Decade LIHTC Journey
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Spartanburg, South Carolina has actively participated in the Low-Income Housing Tax Credit (LIHTC) program to provide affordable housing for its residents. The city's LIHTC funded affordable housing inventory includes 808 total units, with 442 designated as low-income units. Based on the estimated housing inventory of 18,180 units, the LIHTC funded affordable housing covers approximately 4.4% of the city's housing stock.
Spartanburg has received $45,076,276 in project tax credits through the LIHTC program. With 10 approximate projects, this translates to an average of $4,507,628 in federal funding per project. When considering the total units, the average federal funding per unit is $55,787. Spartanburg holds 11.53% of South Carolina's total LIHTC funding, indicating a significant portion of the state's affordable housing efforts are concentrated in this city.
The city's involvement with LIHTC funded affordable housing began in 1988 with the 150 Collins Ave project and has continued through 2019 with The Regency At Blackstock. This 31-year span demonstrates a long-term commitment to affordable housing in Spartanburg. The 2010s saw the most activity in LIHTC funded housing, with four projects completed during this decade, including Highland Avenue in 2016 and both Parkside At Drayton and The Regency At Blackstock in 2019.
Spartanburg's LIHTC funded housing stock offers a diverse range of unit types. The inventory includes 12 efficiencies, 97 one-bedroom units, 302 two-bedroom units, 321 three-bedroom units, and 40 four-bedroom units. This distribution suggests a focus on accommodating families of various sizes.
Over the past decade, Spartanburg's population has remained relatively stable, increasing slightly from 46,543 in 2010 to 47,451 in 2022. The median income has shown a positive trend, rising from $38,867 in 2013 to $49,198 in 2022. This increase in median income may have influenced the need for affordable housing in the city.
Racially, Spartanburg has maintained a diverse population. The white population has remained relatively stable at around 50%, while the Black population has slightly decreased from 43% in 2013 to 40% in 2022. The Hispanic population has shown growth, increasing from 2% in 2013 to 5% in 2022. This demographic shift might have influenced the types of affordable housing needed in the city.
Spartanburg's participation in the LIHTC program has resulted in a significant contribution to its affordable housing stock. The city has consistently developed affordable housing projects over three decades, with a particular focus in the 2010s. While the LIHTC funded units represent a small portion of the city's estimated housing inventory, Spartanburg's share of state LIHTC funding is substantial. The diverse range of unit types suggests an effort to accommodate various household sizes. As the city continues to evolve demographically, with rising median incomes and increasing diversity, the ongoing development of affordable housing will remain an important factor in maintaining a balanced and inclusive community.
