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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 37180, located in Unionville, Tennessee, is a rural area with a population of 2,729 as of 2022. This zip code contains a small Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory, consisting of 5 total units, all of which are designated as low-income units. These units are part of a single LIHTC project in the area.
Based on the estimated housing inventory of 1,046 units for the zip code, the LIHTC funded affordable housing comprises approximately 0.48% of the total housing stock. This indicates that LIHTC funded affordable housing plays a minor role in the overall housing landscape of this zip code.
The LIHTC project in this zip code received $7,044 in tax credits. Dividing this by the total number of units (5) results in an average federal funding of $1,409 per unit. This relatively low amount of funding per unit suggests a modest investment in affordable housing through the LIHTC program in this area.
The sole LIHTC project in this zip code is Sunny Haven Apts, which was completed in 1990. This indicates that affordable housing has been present in the zip code for over three decades. All 5 units in this project are one-bedroom apartments, suggesting a focus on smaller households or individuals.
Over the past decade, the population of zip code 37180 has shown a general upward trend, increasing from 2,359 in 2013 to 2,729 in 2022. The median income has also risen significantly, from $54,284 in 2013 to $66,378 in 2022, representing a 22.3% increase.
The racial composition of the zip code has remained relatively stable, with the white population consistently making up over 90% of the total. There has been a slight increase in diversity, with the Black population growing from 1% in 2013 to 3% in 2022, and the Hispanic population remaining steady at around 1-2%.
Despite the population growth and rising median income, there have been no new LIHTC projects in the area since 1990. This could be due to various factors, such as changes in local housing policies, shifts in funding priorities, or the possibility that other affordable housing programs are meeting the area's needs.
Zip code 37180 in Unionville, Tennessee, has a limited LIHTC funded affordable housing inventory, consisting of one project with 5 one-bedroom units completed in 1990. These units represent a small fraction (0.48%) of the estimated total housing stock. The area has experienced population growth and a significant increase in median income over the past decade, along with slight increases in racial diversity. Despite these demographic changes, no new LIHTC projects have been developed since 1990, suggesting that other factors may be influencing affordable housing development in this rural area.