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Affordable Housing Analysis in Zip Code 36561: LIHTC Impact in Orange Beach, 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 36561 in Orange Beach, Alabama, has a population of 8,702 as of 2022. The Low-Income Housing Tax Credit (LIHTC) program has funded 83 affordable housing units in this area, with 63 of these specifically designated as low-income units. Based on an estimated housing inventory of 3,334 units, the LIHTC-funded affordable housing covers approximately 2.49% of the zip code's housing stock.
The LIHTC projects in this zip code have received $108,234 in tax credits, averaging about $1,304 per unit. This funding represents 0.06% of Alabama's total LIHTC allocation, indicating a relatively small portion of the state's affordable housing investment in this area.
Affordable housing has been present in this zip code since the early 1990s. The first LIHTC project, Sawgrass Apts, was completed in 1992, followed by Bayview Estates in 1993. This decade saw the most affordable housing development activity in the area.
The LIHTC-funded housing inventory in this zip code consists of 25 one-bedroom units, 45 two-bedroom units, and 4 three-bedroom units. This distribution suggests a focus on accommodating smaller households and families.
Over the past decade, the population in this zip code has grown significantly, from 6,521 in 2015 to 8,702 in 2022. Median income has also increased substantially, rising from $58,720 in 2015 to $87,691 in 2022. This upward trend in both population and income might indicate a changing economic landscape in the area.
The racial composition of the zip code has remained relatively stable, with a predominantly white population (95% in 2022). There has been a slight increase in diversity, with the percentage of residents identifying as two or more races growing from 0% in 2017 to 3% in 2022.
The 36561 zip code area has a small but established LIHTC-funded affordable housing inventory, representing about 2.49% of the estimated housing stock. The area has seen significant population growth and income increases over the past decade, which may influence future affordable housing needs. While the LIHTC projects were developed in the early 1990s, the changing demographics suggest ongoing evaluation of affordable housing requirements may be necessary to ensure the community's needs are met.
