Shelbyville, Tennessee, maintains a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 302 total units, with 284 designated as low-income units. This inventory represents approximately 2.5% of the city's housing stock, based on the 2022 population of 31,220 and an estimated 11,962 housing units. The city has received $2,219,685 in project tax credits through the LIHTC program, averaging $443,937 per project and $7,350 per unit across approximately 5 projects. Shelbyville's LIHTC funding accounts for 0.48% of Tennessee's total LIHTC allocation.

The LIHTC program in Shelbyville spans over two decades, commencing with the Canterway Apts project in 1988 and concluding with Paddock Ridge in 2011. The 2000s witnessed the highest activity, with three projects completed: Park Trail Apts (2002), Eastside Multifamily & Elderly Housing (2004), and The Ridge At Shelbyville (2010). The LIHTC-funded projects offer a range of unit types, including 30 one-bedroom, 180 two-bedroom, 79 three-bedroom, and 4 four-bedroom units, indicating a focus on accommodating various family sizes with an emphasis on two-bedroom units.

Shelbyville has experienced steady population growth, increasing from 26,864 in 2014 to 31,220 in 2022. Concurrently, the median income rose from $39,502 in 2014 to $47,030 in 2022. This economic improvement may have contributed to the absence of new LIHTC projects since 2011. The racial composition of Shelbyville has remained relatively stable, with a slight decrease in the white population (from 68% in 2014 to 64% in 2022) and small increases in Hispanic (17% to 20%) and Black populations (8% to 9%).