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Affordable Housing Analysis in Zip Code 35136: Long-standing LIHTC Project Serves Alabama Community
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 35136 in Alabama, covering an area of 177.05 square miles, had a population of 2,108 in 2022. This zip code contains one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project, which provides 19 units, all designated as low-income. Based on an estimated housing inventory of approximately 808 units, the LIHTC funded affordable housing represents about 2.35% of the zip code's housing stock.
The LIHTC project in zip code 35136 received $30,089 in tax credits, averaging $1,584 per unit in federal funding. This accounts for 0.02% of Alabama's total LIHTC funding allocation, indicating a relatively small portion of the state's affordable housing investment in this area.
The single LIHTC project in this zip code, Stone Gate, was completed in 1991. This indicates that affordable housing has been present in the area for over three decades. The project comprises 5 one-bedroom units and 14 two-bedroom units, offering a mix of housing options for low-income residents.
Over the past decade, zip code 35136 has experienced fluctuations in population, with a general upward trend from 1,816 in 2013 to 2,108 in 2022. The median income has also shown variations, ranging from $39,348 in 2016 to $53,154 in 2019, before settling at $40,324 in 2022.
Regarding racial demographics, the area has maintained a predominantly white population, with percentages ranging from 68% to 77% over the past decade. The Black population has remained relatively stable, accounting for 21-26% of residents. There has been a slight increase in Hispanic representation, from 0% in 2016 to 4% in 2022.
The absence of new LIHTC projects in the last decade could be attributed to various factors, including the relatively stable population and income levels, which may not have indicated a significant increase in demand for additional affordable housing.
Zip code 35136 has a single LIHTC funded affordable housing project that has been serving the community for over 30 years. While it represents a small portion of the area's housing stock and state LIHTC funding, it provides 19 low-income units to meet some of the affordable housing needs in the area. The demographic trends over the past decade show a relatively stable population with some income fluctuations, which may explain the lack of new LIHTC developments in recent years. As the community continues to evolve, ongoing assessment of affordable housing needs will be crucial to ensure adequate support for low-income residents.
