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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Union City, Tennessee, has a significant inventory of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The city has 264 units in LIHTC-funded projects, with 219 designated as low-income units. Based on the estimated housing inventory of 4,809 units for the city's 2022 population, LIHTC-funded affordable housing represents approximately 5.5% of the city's total housing stock.
Union City has received $2,667,885 in project tax credits through the LIHTC program. With 9 projects, this translates to an average of $296,432 in federal funding per project. When divided by the total number of units, it amounts to about $10,106 in federal funding per unit. Union City holds 0.58% of Tennessee's total LIHTC funding, indicating a modest share of the state's affordable housing resources.
The city's involvement with LIHTC-funded housing spans from 1990 to 2016. The first projects, College Greenwood Duplex and East Towne Apts, were completed in 1990, while the most recent project, Ware Park, was finished in 2016. The 1990s saw the most activity in affordable housing development, with five projects completed during that decade. Notable projects include College SFD and Glendale Duplex in 1991, and Taylor Street SFD in 1992.
The inventory of LIHTC-funded units in Union City includes a mix of unit sizes, with 102 one-bedroom units, 136 two-bedroom units, 20 three-bedroom units, and 6 four-bedroom units. This distribution suggests a focus on accommodating small to medium-sized households.
Over the past decade, Union City has experienced a slight decline in population, from 12,908 in 2013 to 12,551 in 2022. The median income has fluctuated, reaching a high of $39,020 in 2021 before decreasing to $34,232 in 2022. Racial demographics have remained relatively stable, with a slight decrease in the white population from 73% in 2016 to 66% in 2022, and a small increase in the Black population from 19% to 20% over the same period. The Hispanic population has grown from 5% to 8% during this time.
The most recent LIHTC project was completed in 2016, which coincides with a period of population decline and income fluctuation. This may suggest that the existing affordable housing stock has been sufficient to meet the city's needs in recent years.
Union City's LIHTC-funded affordable housing inventory represents a significant investment in addressing the housing needs of its low-income residents. With 264 total units, of which 219 are designated as low-income, these projects make up about 5.5% of the city's estimated housing stock. The city has seen consistent development of affordable housing over nearly three decades, with a concentration of projects in the 1990s. While no new LIHTC projects have been completed since 2016, this aligns with the city's recent demographic trends of slight population decline and fluctuating median income. The diverse mix of unit sizes in the LIHTC inventory suggests an effort to accommodate various household sizes within the low-income population.