Benton's LIHTC allocation represents 0.02% of Tennessee's total LIHTC funding, indicating a relatively small but meaningful contribution to the state's affordable housing efforts.

The Chilowee Apartments project, completed in 1994, marks the beginning and currently the only instance of LIHTC-funded affordable housing in Benton. This development has been providing affordable housing options for nearly three decades.

The housing mix in the Chilowee Apartments consists of 16 one-bedroom units and 32 two-bedroom units, offering a range of options for different household sizes. This distribution suggests a focus on accommodating small families and individuals in need of affordable housing.

Analyzing demographic trends over the past decade reveals interesting patterns. Benton's population has shown a general decline, dropping from 2,688 in 2010 to 1,889 in 2022. Despite this population decrease, the median income has seen a modest increase, rising from $35,306 in 2013 to $39,661 in 2022. This could indicate changing economic conditions in the area.

The racial composition of Benton has remained relatively stable, with a predominantly white population (91% in 2022). There has been a slight increase in diversity, with small growth in the Black population (from 1% in 2013 to 2% in 2022) and the emergence of a multi-racial category (6% in 2022).

In summary, Benton's affordable housing landscape is characterized by a single, long-standing LIHTC project that provides a notable contribution to the town's housing stock. While the town has experienced population decline, the continued presence of this affordable housing option suggests its ongoing importance to the community. The modest rise in median income, coupled with the stable racial composition, indicates a community that may be slowly evolving while maintaining its core characteristics.