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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Clarksville, Tennessee, a city with a population of 176,977 as of 2022, has utilized the Low-Income Housing Tax Credit (LIHTC) program to provide affordable housing options. The program has resulted in 776 units in LIHTC-funded projects, with 605 designated as low-income units. This accounts for approximately 1.14% of the city's estimated housing inventory of 67,807 units.
Clarksville has received $5,670,740 in project tax credits through the LIHTC program. With approximately 10 projects, this amounts to an average of $567,074 in federal funding per project, or about $7,307 per unit. Clarksville's allocation represents 1.23% of Tennessee's total LIHTC funding.
The city's LIHTC-funded affordable housing development spans from 1996 to 2013. The first project, Cumberland Manor Apartments, was completed in 1996, while the most recent, Vinings At Greencastle, was finished in 2013. This 17-year period demonstrates a consistent commitment to affordable housing development in Clarksville.
The 2000s saw significant affordable housing development activity, with projects such as Orchard Park Apartments I (2001), Miller Town Apartments (2002), and Amber Pointe Apartments (2003) being completed in quick succession. The LIHTC-funded projects in Clarksville offer a range of unit types, including 72 one-bedroom units, 401 two-bedroom units, and 222 three-bedroom units, catering to various household sizes and needs.
Clarksville's population has grown significantly, increasing from 142,355 in 2013 to 176,977 in 2022, a 24.3% increase. This growth suggests an increasing demand for housing, including affordable options. The median income in Clarksville has also risen from $47,631 in 2013 to $63,723 in 2022, a 33.8% increase. Despite this overall income growth, the need for affordable housing likely persists for a significant portion of the population.
Racial demographics in Clarksville have remained relatively stable over the past decade. The white population has consistently represented about 55-58% of the total, while the Black population has fluctuated between 18-25%. The Hispanic population has remained steady at around 12%. This diversity underscores the importance of providing equitable access to affordable housing across all communities.
Clarksville's LIHTC-funded affordable housing inventory represents a significant investment in addressing the city's affordable housing needs. The consistent development of LIHTC projects from 1996 to 2013 demonstrates a long-term commitment to affordable housing. However, with the city's rapid population growth and increasing median income, there may be ongoing challenges in meeting affordable housing demands. The diverse unit types offered through LIHTC projects cater to various household sizes, reflecting an effort to address the needs of different segments of the population. As Clarksville continues to grow and evolve, maintaining a focus on affordable housing will be crucial for ensuring a balanced and inclusive community.