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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Fayetteville, Tennessee, with a population of 11,142 as of 2022, has 216 total units of Low-Income Housing Tax Credit (LIHTC) funded affordable housing, including 180 low-income units. This represents approximately 5.1% of the city's estimated 4,269 housing units.
Fayetteville has received $6,076,639 in project tax credits for affordable housing through the LIHTC program. With approximately 4 projects, this equates to an average of $1,519,160 in federal funding per project and about $28,133 per unit. Fayetteville accounts for 1.32% of Tennessee's total LIHTC funding.
The city's LIHTC-funded affordable housing development spans from 1990 to 2012. The earliest project, Oakview Apts, was completed in 1990, while the most recent projects, East Haven Apts and Sterling Greene, were completed in 2012. The 2010s saw the most activity, with three out of four projects completed during this decade.
The housing mix in Fayetteville's LIHTC projects includes 60 one-bedroom units, 46 two-bedroom units, 40 three-bedroom units, and 16 four-bedroom units, accommodating various household compositions and sizes.
Fayetteville's population has grown from 10,071 in 2010 to 11,142 in 2022. The median income has increased from $40,178 in 2013 to $50,826 in 2022. The city has maintained a predominantly white population of 75-79% over the past decade, with the Black population ranging from 13% to 18% and the Hispanic population remaining stable at 2-4%.
The completion of three LIHTC projects in the early 2010s coincides with a period of population growth and relatively lower median incomes, suggesting a response to increased affordable housing needs during that time.
Fayetteville's LIHTC-funded affordable housing represents a small but significant portion of the city's estimated housing stock. The city has seen consistent investment in affordable housing over two decades, with particular activity in the early 2010s. The diverse range of unit sizes in LIHTC projects indicates an effort to meet varied housing needs. The demographic trends over the past decade, including population growth and gradual income increases, provide context for the timing of LIHTC project developments in the city.