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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 29650 in Greer, South Carolina, contains Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. This area has 212 units in LIHTC-funded projects, with 104 designated as low-income units. Based on the 2022 population of 37,595 and an estimated 14,404 housing units, LIHTC-funded affordable housing comprises approximately 1.47% of the zip code's estimated housing inventory.
The LIHTC projects in zip code 29650 have received $8,302,906 in tax credits, averaging about $39,165 per unit in federal funding. This zip code holds 2.12% of South Carolina's total LIHTC funding, indicating a significant investment in affordable housing for the area.
Affordable housing has been present in this zip code for over 15 years. The first LIHTC project, Beverly Apts, Alp, was completed in 2004, and the most recent, Piedmont Pointe, was finished in 2019. The 2010s saw the most activity in affordable housing development, with three projects completed during this decade: Pelham Village (2012), Avalon Chase (2014), and Piedmont Pointe (2019).
The LIHTC-funded projects in zip code 29650 offer a diverse range of housing options. Out of the 212 total units, there are 8 efficiencies, 14 one-bedroom units, 86 two-bedroom units, 82 three-bedroom units, and 22 four-bedroom units. This distribution suggests a focus on accommodating families of various sizes.
Over the past decade, zip code 29650 has experienced steady population growth, increasing from 31,162 in 2010 to 37,595 in 2022. The median income has also risen, from $78,125 in 2013 to $84,687 in 2022, indicating an overall improvement in economic conditions.
The racial composition of zip code 29650 has remained relatively stable, with a slight decrease in the white population from 76% in 2013 to 72% in 2022. There have been small increases in Asian, Black, and Hispanic populations during this period. The development of LIHTC projects throughout this time suggests an ongoing effort to maintain affordable housing options amidst demographic changes and economic growth.
Zip code 29650 in Greer, South Carolina, has a modest but significant LIHTC-funded affordable housing presence, representing about 1.47% of the estimated housing inventory. The area has seen consistent investment in affordable housing over the past 15 years, with projects completed in various years, particularly in the 2010s. The diverse unit types suggest an effort to accommodate different household sizes. While the zip code has experienced population growth and increased median income, the continued development of LIHTC projects indicates an ongoing commitment to maintaining affordable housing options for the community.