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Affordable Housing Analysis in Zip Code 35127: Pleasant Grove's LIHTC Project
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The zip code 35127, located in Pleasant Grove, Alabama, has a population of 8,916 as of 2022. This area contains one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project, providing 40 affordable units, including 4 designated low-income units. Based on the estimated housing inventory of 3,416 units, the LIHTC-funded affordable housing comprises approximately 1.17% of the zip code's housing stock.
The LIHTC project in zip code 35127 received $401,705 in tax credits, averaging $10,043 per unit. This funding represents 0.23% of Alabama's total LIHTC allocation, indicating a relatively small portion of the state's affordable housing investment in this area.
The sole LIHTC project in this zip code, Arbors At Ellington, was completed in 2009. This development has been providing affordable housing options for over a decade. The project consists of 8 one-bedroom units and 32 two-bedroom units, offering a mix of housing options for different household sizes.
Over the past decade, zip code 35127 has experienced a slight population decline, from 9,532 in 2013 to 8,916 in 2022. The median income has fluctuated but remained relatively stable, ranging from $76,487 in 2013 to $69,635 in 2022.
Racial demographics have shifted significantly during this period. The Black population increased from 51% in 2013 to 69% in 2022, while the White population decreased from 47% to 28%. This demographic shift may indicate changing housing needs in the area.
Zip code 35127 has a single LIHTC-funded affordable housing project, Arbors At Ellington, which was completed in 2009. This development provides 40 affordable units, representing a small portion of the area's estimated housing stock. The project received $401,705 in tax credits, accounting for 0.23% of Alabama's LIHTC allocation.
The population has slightly decreased over the past decade, and there have been significant shifts in racial demographics. The area has maintained a relatively stable median income, which may influence the demand for affordable housing. These demographic changes could be important factors in assessing future affordable housing needs in zip code 35127.
