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Affordable Housing in Airmont: LIHTC's Impact on a Diverse Mobile Neighborhood
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Airmont, a neighborhood in Mobile, Alabama, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory consists of 208 total units, all of which are designated as low-income units. This investment in affordable housing addresses the community's housing needs.
The estimated housing inventory of Airmont is 1,169 units, with LIHTC funded affordable housing covering approximately 17.8% of the total housing stock. This percentage aligns with the target of 15-20% for affordable housing in a balanced community.
The LIHTC program has invested $359,237 in tax credits for affordable housing projects in Airmont. This equates to an average federal funding of $1,727 per unit. The neighborhood's LIHTC funded affordable housing is represented by a single project, Azalea Pointe Apartments, completed in 2004.
Azalea Pointe Apartments offers a mix of two-bedroom and three-bedroom units, with 104 units of each type. This distribution suggests a focus on accommodating families and larger households within the affordable housing inventory.
Over the past decade, Airmont has experienced demographic shifts. The neighborhood's population has decreased from 4,194 in 2015 to 3,052 in 2022, a decline of about 27%. Median income in Airmont has fluctuated, with a notable decrease from $45,582 in 2018 to $38,369 in 2022.
Regarding racial demographics, the neighborhood has maintained a diverse composition. The Black population has remained the largest group, consistently representing over 50% of the residents. The White population has decreased from 37% in 2015 to 30% in 2022, while the Asian population has increased from 4% to 10% during the same period.
Airmont's LIHTC funded affordable housing inventory provides a significant contribution to the neighborhood's housing stock. The 208 low-income units represent about 17.8% of the estimated total housing inventory, aligning with recommended affordable housing targets.
The population decrease and fluctuations in median income over the past decade highlight the ongoing importance of maintaining and potentially expanding affordable housing options in Airmont to meet the evolving needs of its diverse community.
