Affordable Housing Incentive Program
NOTE: This page will be updated with application information when available.
Mayor Megan Barry has put forward the Housing Incentives Pilot Program (HIPP) that is designed to motivate private developers to incorporate affordable and workforce units into their apartment, condo, or housing developments. This voluntary program would encourage more mixed-income housing, primarily in the urban core and along major pikes and transportation corridors where it is needed the most. The goal is to provide housing options for working families in Nashville that would be offered at rates that do not exceed 30% of their household income. Rental or mortgages prices that exceed 30% of an individual or household's income are determined to result in them being "cost-burdened," which can lead to difficult choices in paying for basic necessities such as food, utilities, or transportation.
The details of HIPP are attached in the following press release, draft ordinance, and a chart outlining Median Household Income levels for Davidson County residents, along with the associated maximum rental prices before a household becomes cost-burdened. An amendment has been proposed and added to this page.
HIPP policies and procedures are being finalized, but interested applicants can review the Draft Policies and Procedures for a better understanding of the program.