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Adamsville's Affordable Housing: LIHTC Impact and Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Adamsville, a neighborhood in Atlanta, Georgia, exhibits a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory comprises 153 total units, with 121 designated as low-income units. Based on the 2022 population of 5,150 and the national average household size of 2.61, the estimated housing units in the neighborhood are approximately 1,973. The LIHTC funded affordable housing represents about 7.8% of the estimated housing inventory in Adamsville.
The LIHTC projects in Adamsville have received $750,000 in project tax credits. This amount equates to an average federal funding of approximately $4,902 per unit when divided by the total number of LIHTC-funded units. Adamsville's LIHTC-funded affordable housing development occurred between 2005 and 2010, indicating a relatively short but significant period of affordable housing construction.
The earliest projects, Martin House @ Adamsville Place and Martin House At Adamsville Place, were completed in 2005. The most recent project, Adamsville Green Senior, was finished in 2010. The 2000s decade witnessed the highest number of affordable housing project completions in this neighborhood. The inventory includes 12 one-bedroom units and 32 two-bedroom units, suggesting a focus on smaller household sizes. This distribution may reflect the needs of the local population, potentially including singles, couples, or small families.
Adamsville has experienced notable demographic shifts over the last decade. The population has increased from 4,281 in 2015 to 5,150 in 2022, indicating a growing demand for housing. Median income has also seen a substantial increase, rising from $15,881 in 2015 to $28,437 in 2022. This significant income growth might suggest changing economic conditions in the neighborhood.
Racial demographics show a consistently high African American population, ranging from 88% to 97% over the past decade. However, there has been a slight decrease in the African American population (from 97% in 2020 to 88% in 2022) and an increase in the Hispanic population (from 2% in 2020 to 8% in 2022). These demographic shifts could influence future affordable housing needs and planning.
Adamsville's LIHTC-funded affordable housing inventory, while covering a modest percentage of the estimated housing stock, represents a significant investment in the neighborhood's low-income housing. The projects, developed primarily in the 2000s, provide a mix of unit sizes with a focus on one and two-bedroom apartments. The neighborhood has experienced population growth and substantial median income increases over the past decade, along with slight shifts in racial composition. These demographic changes may influence future affordable housing needs and strategies in Adamsville.
