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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 36612 in Prichard, Alabama, contains a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing presence. The area encompasses 56 total affordable units, all of which are designated as low-income units. Based on the 2022 population of 4,000 and an estimated 1,533 housing units in the zip code, the LIHTC funded affordable housing covers approximately 3.65% of the estimated housing inventory.
The LIHTC program has invested $368,939 in tax credits for affordable housing projects in this zip code. This translates to an average federal funding of $6,588 per unit. Notably, this zip code accounts for 0.21% of Alabama's total LIHTC funding allocation.
The sole LIHTC project in this area, Arbor Pointe Apartments, was completed in 1997. This development has been providing affordable housing options in the zip code for over 25 years. The project consists of 56 units, with 24 two-bedroom and 32 three-bedroom apartments, catering to families and individuals who need more spacious living arrangements.
Over the past decade, the zip code has experienced a declining population trend, from 4,930 in 2018 to 4,000 in 2022. The median income has fluctuated, with the most recent data showing $23,076 in 2022, down from $28,314 in 2018. This decrease in median income suggests a potential increased need for affordable housing options.
The racial composition of the zip code has remained relatively stable, with the Black population consistently representing over 90% of residents. The White population has slightly increased from 3% in 2018 to 6% in 2022, while the Hispanic population has decreased from 3% to 2% during the same period.
Zip code 36612 in Prichard, Alabama, has a single LIHTC-funded affordable housing project that has been serving the community for over two decades. While the project provides 56 low-income units, it covers a small percentage of the estimated housing inventory. The area has experienced population decline and fluctuating median incomes, which may indicate an ongoing need for affordable housing options. The racial composition has remained relatively stable, with a predominantly Black population. These demographic trends, coupled with the longstanding presence of LIHTC-funded housing, suggest that affordable housing continues to play an important role in this community.