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Baileyton, Tennessee: Limited Affordable Housing and Demographic Stability
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Baileyton, Tennessee, possesses a small Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The town contains 4 total affordable units, all classified as low-income units. Based on the estimated housing inventory of 1,037 units for the population of 2,707 in 2022, LIHTC funded affordable housing comprises approximately 0.39% of the town's housing stock.
Baileyton has received $58,406 in project tax credits from the LIHTC program. With one approximate project, this equates to an average federal funding of $58,406 per project. The average federal funding per unit is $14,601.50. This funding represents 0.01% of Tennessee's total state LIHTC allocation.
The LIHTC funded affordable housing in Baileyton has existed since 1995, with the completion of Baileyton Terrace Apartments. This project marks both the first and only LIHTC development in the town, indicating a relatively long-standing presence of affordable housing for over two decades.
All 4 units in the LIHTC funded project are one-bedroom apartments, suggesting a focus on accommodating smaller households or individuals.
Over the last decade, Baileyton's population has remained relatively stable, fluctuating between 2,696 and 3,012 residents. The median income has shown an overall increasing trend, rising from $32,707 in 2013 to $38,087 in 2022, with some fluctuations in between.
Regarding racial distribution, the town has consistently maintained a predominantly white population, with percentages ranging from 94% to 99% over the past decade. There has been a slight increase in diversity, with small percentages of Black, Hispanic, and other racial groups emerging in recent years.
The stable population and increasing median income may suggest a limited demand for additional affordable housing beyond the existing LIHTC project. However, the slight increase in diversity could potentially indicate changing housing needs in the future.
Baileyton's LIHTC funded affordable housing inventory consists of a single project with 4 one-bedroom units, completed in 1995. While this represents a small portion (0.39%) of the estimated housing stock, it has provided a consistent source of affordable housing for over 25 years. The town has received $58,406 in LIHTC funding, accounting for 0.01% of Tennessee's allocation. The demographic trends show a stable population with increasing median income and slight diversification, which may influence future affordable housing needs in the town.
