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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
White Pine, Tennessee, a small town with a population of 5,914 residents as of 2022, has a history dating back to the late 18th century. The Low-Income Housing Tax Credit (LIHTC) program has contributed to the provision of affordable housing in the community.
White Pine has one LIHTC-funded affordable housing project, Jefferson Place Apartments, which offers 18 low-income units. This project accounts for approximately 0.79% of the city's estimated 2,266 housing units.
The LIHTC program has allocated $27,845 in tax credits to White Pine for affordable housing development. This equates to an average federal funding of $1,547 per unit in the Jefferson Place Apartments project. White Pine's LIHTC funding constitutes 1% of the total state credits allocated in Tennessee.
Jefferson Place Apartments, completed in 1990, represents the inception of LIHTC-funded affordable housing in White Pine. For over three decades, this project has remained the sole LIHTC development in the town, providing a consistent source of affordable housing options.
The affordable housing inventory in White Pine comprises 18 units, consisting of 6 one-bedroom and 12 two-bedroom apartments. This mix caters to various household sizes within the low-income population.
Demographic trends over the past decade indicate modest population growth in White Pine, increasing from 5,388 in 2010 to 5,914 in 2022. The median income has also risen, from $36,773 in 2013 to $60,539 in 2022. This income growth may suggest changing housing needs in the community.
Racial demographics in White Pine have remained relatively stable, with the white population consistently representing the majority. A slight increase in diversity has occurred, with small increases in Hispanic and multiracial populations over the past decade.
In conclusion, White Pine's LIHTC-funded affordable housing, although limited to one project, has provided a consistent source of low-income housing for over 30 years. The town's demographic changes, including population growth and rising median income, may influence future affordable housing needs. Ongoing assessment of housing affordability will be crucial to ensure the community's needs are met as White Pine continues to evolve.