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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 36527, located in Spanish Fort, Alabama, has a population of 19,145 as of 2022. This area has one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project, providing a total of 104 affordable units, all of which are designated as low-income units. Based on the estimated housing inventory of 7,335 units, the LIHTC-funded affordable housing covers approximately 1.42% of the zip code's housing stock.
The LIHTC project in this zip code received $717,113 in tax credits, averaging $6,895 per unit in federal funding. This funding represents 0.4% of Alabama's total LIHTC allocation, indicating a relatively small portion of the state's affordable housing investment in this area.
The Kensley Apartments, completed in 2005, is the sole LIHTC project in the zip code. This development has been providing affordable housing options for over 15 years. The project consists of 72 two-bedroom units and 32 three-bedroom units, offering a mix of housing sizes to accommodate different household needs.
Over the past decade, the zip code has experienced significant population growth, increasing from 12,629 in 2013 to 19,145 in 2022. This represents a 51.6% increase in population. Concurrently, the median income has risen from $92,099 in 2013 to $99,935 in 2022, indicating a generally affluent area.
The racial composition of the zip code has remained predominantly white, though there has been a slight decrease from 90% in 2013 to 81% in 2022. The Black population has increased from 3% to 8%, and the Asian population from 1% to 2% during this period. The Hispanic population has remained relatively stable at around 2-3%.
Despite the population growth and increasing median income, there have been no new LIHTC projects in the last decade. This could be due to the area's relatively high median income, which may reduce the perceived need for additional affordable housing units.
Zip code 36527 has a single LIHTC-funded affordable housing project, The Kensley Apartments, which provides 104 low-income units. While this represents a small portion of the area's housing stock, it has been a consistent source of affordable housing since 2005. The zip code has experienced significant population growth and maintains a high median income, which may influence the perceived need for additional affordable housing developments. The racial composition has become slightly more diverse over the past decade, though it remains predominantly white.