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Affordable Housing Analysis in Zip Code 36016: LIHTC Funded Projects in Clayton, Alabama
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 36016, located in Clayton, Alabama, contains a distinct Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. This area encompasses 39 total units in LIHTC funded projects, with 21 of these designated as low-income units. Based on the 2022 population of 4,998 and utilizing the national average household size, an estimated 1,915 housing units exist in the zip code. The LIHTC funded affordable housing comprises approximately 2.04% of the estimated housing inventory in this area.
The LIHTC projects in zip code 36016 have received $49,521 in project tax credits, averaging about $1,270 per unit. This zip code holds 0.03% of Alabama's total LIHTC funding, indicating a relatively small portion of the state's affordable housing investment.
Affordable housing has been present in this zip code since 1990, with the first project, Pecan Ridge, completed that year. The most recent project, Starrise Haven, was completed in 1991. Both projects were constructed within a two-year span, suggesting a concentrated effort to develop affordable housing in the early 1990s.
The inventory consists of 21 one-bedroom units and 18 two-bedroom units, providing a mix of housing options for different household sizes. There are no efficiencies or larger units (three or four bedrooms) in the LIHTC funded projects.
Over the past decade, the zip code's population has fluctuated, peaking at 5,989 in 2013 and declining to 4,998 in 2022. The median income has shown an overall upward trend, increasing from $28,184 in 2013 to $37,147 in 2022, with some fluctuations.
Racial demographics have remained relatively stable, with a slight increase in the Black population from 48% in 2017 to 52% in 2022, and a corresponding slight decrease in the White population from 47% to 45% during the same period. The Hispanic population has remained consistently low, decreasing from 4% in 2017 to less than 1% in 2022.
The absence of new LIHTC projects in the last decade could be attributed to the relatively stable population and increasing median income, potentially indicating a reduced need for additional low-income housing units.
The 36016 zip code has a small but established LIHTC funded affordable housing inventory, concentrated in two projects built in the early 1990s. These projects provide a mix of one and two-bedroom units, covering only a small percentage of the estimated housing inventory. The area has experienced modest population fluctuations and income growth over the past decade, which may have influenced the lack of recent LIHTC development. The racial composition has remained relatively stable, with a slight increase in the Black population and a decrease in the White population.
