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Affordable Housing Analysis in Zip Code 36695: Mobile's Growing LIHTC Inventory
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 36695 in Mobile, Alabama has a diverse and growing affordable housing inventory funded by the Low-Income Housing Tax Credit (LIHTC) program. This area has 800 total units in LIHTC-funded projects, with 476 of these specifically designated as low-income units. Based on the estimated 19,099 housing units in the zip code, LIHTC-funded affordable housing represents approximately 4.2% of the total housing stock, indicating a significant contribution to affordable housing needs in the area.
The LIHTC program has invested substantially in this zip code, with project tax credits totaling $2,214,943. This translates to an average federal funding of $2,769 per unit across all LIHTC-funded projects. Notably, this zip code accounts for 1.24% of Alabama's total LIHTC funding, underscoring its importance in the state's affordable housing landscape.
Affordable housing has been a long-standing feature of this zip code, with projects spanning from 1997 to 2008. The Woods Apartments, completed in 1997, marks the earliest LIHTC project, while Anne Place Apartments, finished in 2008, represents the most recent addition. The early 2000s saw significant affordable housing development, with multiple projects completed in 2003 alone, including Cottage Hill Pointe Apartments, Oleander Park Apartments, and The Palladian Apartments.
The LIHTC-funded projects in this zip code offer a variety of unit types to accommodate different household sizes. The inventory includes 140 one-bedroom units, 396 two-bedroom units, and 210 three-bedroom units, providing options for individuals, small families, and larger households.
Over the past decade, zip code 36695 has experienced notable demographic shifts. The population has grown from 45,092 in 2013 to 49,848 in 2022, indicating a steady increase in demand for housing. Median income has remained relatively stable, fluctuating between $76,572 and $81,032, suggesting a consistent need for affordable housing options.
Racial demographics have also evolved, with the white population decreasing from 75% in 2013 to 68% in 2022, while the Black population increased from 15% to 23% during the same period. The Hispanic population has also grown from 2% to 4%. These changes reflect an increasing diversity in the area, which may influence future affordable housing needs and development strategies.
Zip code 36695 in Mobile, Alabama demonstrates a significant commitment to affordable housing through its LIHTC-funded projects. With 800 total units, including 476 low-income units, these developments play a crucial role in addressing housing needs for the area's diverse and growing population. The steady population growth, stable median income, and increasing racial diversity over the past decade underscore the ongoing importance of affordable housing initiatives in this community. While LIHTC-funded projects currently represent a small percentage of the total housing stock, they provide essential housing options for low-income residents in this evolving zip code.
