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Affordable Housing Analysis in Atlanta's 30318 Zip Code: Three Decades of LIHTC Development
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 30318 in Atlanta, Georgia, contains a significant number of Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. This area has 1,508 total units in LIHTC-funded projects, with 1,050 designated as low-income units. Based on the 2022 population of 63,627 and an estimated 24,378 housing units, LIHTC-funded affordable housing represents approximately 6.2% of the zip code's estimated housing inventory.
The LIHTC projects in zip code 30318 have received $8,744,846 in tax credits, averaging about $5,800 per unit. This zip code holds 2.59% of Georgia's total LIHTC funding, indicating a substantial investment in affordable housing for the area.
Affordable housing has been present in this community for nearly three decades. The earliest LIHTC project, Flipper Temple, was completed in 1992, while the most recent, The Remington, was finished in 2018. The 2000s saw the most significant development of affordable housing, with multiple projects completed each year from 2002 to 2007. Notable projects from this period include The Park at Scott's Crossing (2003), Columbia Heritage Senior Residences (2004), and Avalon Park Family and Senior (both in 2007).
The LIHTC-funded housing in zip code 30318 offers a diverse range of unit types. There are 298 one-bedroom units, 492 two-bedroom units, 278 three-bedroom units, and 18 four-bedroom units. This variety suggests an effort to accommodate different household sizes and needs within the affordable housing inventory.
Over the past decade, zip code 30318 has experienced population growth, increasing from 55,943 in 2015 to 63,627 in 2022. Concurrently, the median income has risen from $52,682 in 2015 to $75,884 in 2022, indicating improving economic conditions for residents.
The racial composition of the area has remained relatively stable, with the Black population consistently representing about 50-52% of residents, while the White population has maintained around 33-34%. The Asian and Hispanic populations have maintained steady proportions of about 6-7% each.
Despite the rise in median income, the consistent racial diversity and ongoing population growth suggest a continued need for affordable housing options in this zip code.
Zip code 30318 in Atlanta demonstrates a substantial commitment to affordable housing through its LIHTC-funded projects. With over 1,500 units, including 1,050 low-income units, these developments play a crucial role in providing housing options for the area's diverse population. The steady stream of projects from 1992 to 2018 indicates ongoing efforts to address affordable housing needs. While the median income has increased, the stable racial diversity and growing population suggest a persistent demand for affordable housing in this urban area.
