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Affordable Housing in Zip Code 37204: Three Decades of LIHTC Projects in Nashville-Davidson
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CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 37204 in Nashville-Davidson, Tennessee, has a population of 16,942 as of 2022 and covers an area of 7.15 square miles. This zip code contains a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 214 units, all of which are designated as low-income. These units represent approximately 3.3% of the estimated 6,491 housing units in the zip code.
The LIHTC projects in zip code 37204 have received $530,633 in project tax credits, averaging $2,479 per unit. This funding constitutes 0.12% of the total state LIHTC allocation, indicating a modest investment in affordable housing for this area. Affordable housing has been present in this zip code for three decades, with the first project completed in 1990 and the most recent in 2000.
The housing mix in these LIHTC projects includes 88 one-bedroom units, 94 two-bedroom units, and 5 three-bedroom units. This distribution accommodates various household sizes, from individuals to small families. Over the past decade, zip code 37204 has experienced significant population growth, increasing from 12,678 in 2013 to 16,942 in 2022. Concurrently, the median income has risen from $81,343 in 2013 to $109,484 in 2022, indicating a trend towards higher-income residents.
The racial composition of zip code 37204 has remained relatively stable, with a slight increase in diversity. The white population has marginally increased from 76% in 2013 to 80% in 2022, while the Black population has decreased from 17% to 11%. The Asian population has grown from 2% to 4%, and the Hispanic population has remained steady at around 2-3%.
Zip code 37204 in Nashville-Davidson has an established LIHTC funded affordable housing inventory, covering about 3.3% of the estimated housing stock. The area has experienced significant population and income growth over the past decade, potentially indicating an increasing need for affordable housing options. While the LIHTC projects have not expanded since 2000, the changing demographics suggest that there may be an ongoing demand for affordable housing in this increasingly affluent area.
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