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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Sylvan Heights, a neighborhood in Nashville-Davidson, Tennessee, contains a significant number of Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. The neighborhood has 105 total units in LIHTC-funded projects, all of which are designated as low-income units. This inventory plays a crucial role in meeting the community's housing needs.
Based on the 2022 population of 2,181 and using the national average household size of 2.61, Sylvan Heights is estimated to have approximately 836 housing units. The 105 LIHTC-funded affordable units represent about 12.6% of this estimated housing inventory, indicating a substantial contribution to the neighborhood's affordable housing stock.
The LIHTC projects in Sylvan Heights have received $234,397 in tax credits, averaging about $2,232 per unit. This federal funding has been instrumental in developing and maintaining affordable housing in the area. The first LIHTC projects in Sylvan Heights were completed in 1988, and the most recent project was completed in 1999, indicating that affordable housing has been a part of the neighborhood for over three decades.
The 1980s saw the most significant development of affordable housing in Sylvan Heights, with seven out of eight projects completed during this decade. The LIHTC-funded housing in Sylvan Heights consists primarily of multi-bedroom units, including 2 one-bedroom units, 32 two-bedroom units, 44 three-bedroom units, and 9 four-bedroom units. This distribution suggests a focus on accommodating families of various sizes.
Over the past decade, Sylvan Heights has experienced notable demographic shifts. The population has remained relatively stable, fluctuating between about 1,800 and 2,400 residents. However, the median income has increased significantly, rising from $37,375 in 2013 to $71,081 in 2022, indicating growing economic prosperity in the neighborhood.
Racial demographics have also shifted considerably. The proportion of white residents increased from 60% in 2013 to 83% in 2022, while the Black population decreased from 34% to 5% during the same period. The Hispanic population remained relatively stable at around 2-3%. These demographic changes, particularly the rising median income, may explain why no new LIHTC projects have been developed in Sylvan Heights since 1999.
Sylvan Heights has a significant inventory of LIHTC-funded affordable housing, representing about 12.6% of its estimated housing stock. The majority of these units were developed in the 1980s, providing a long-standing foundation of affordable housing in the neighborhood. While no new LIHTC projects have been added in recent years, the existing units continue to play a crucial role in maintaining housing affordability. The neighborhood has experienced considerable demographic changes over the past decade, including rising incomes and shifts in racial composition, which may influence future affordable housing needs and development in the area.