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Affordable Housing in Anniston: LIHTC's Impact on a Changing City
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Anniston, Alabama, a city with historical significance as the former location of Fort McClellan, has a notable Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The LIHTC program in Anniston has contributed 112 affordable housing units, all of which are designated as low-income units. These units represent approximately 1.21% of the city's estimated housing stock of 9,240 units.
Anniston has received $862,736 in project tax credits through the LIHTC program. This funding is distributed across approximately two projects, resulting in an average federal funding of $431,368 per project and $7,703 per unit. Anniston's share of Alabama's total LIHTC funding is 0.48%, indicating a small but significant portion of the state's affordable housing efforts.
The development of LIHTC-funded affordable housing in Anniston spans over two decades. The first project, Wesley Park, was completed in 2001, while the most recent, Southern Ridge Estates, was finished in 2003. This period represents the early 2000s as the most active time for LIHTC development in the city. The LIHTC projects in Anniston offer a mix of unit types, with 44 one-bedroom units and 68 two-bedroom units, catering to various household sizes within the low-income community.
Anniston has experienced a gradual population decline over the past decade, with the number of residents decreasing from 26,705 in 2015 to 24,117 in 2022. Despite this population decrease, the median income has shown an upward trend, increasing from $36,104 in 2015 to $46,717 in 2022. This rise in median income may indicate changing economic conditions in the city.
The racial demographics of Anniston have remained relatively stable over the past decade. The Black population has consistently represented around 45% of the total population, while the White population has slightly decreased from 48% in 2016 to 47% in 2022. There has been a small increase in the Hispanic population, growing from 2% in 2015 to 4% in 2022.
Anniston's LIHTC-funded affordable housing inventory, while modest in size, provides 112 low-income units to the community. The program has made a significant contribution to the city's affordable housing stock, with projects completed in the early 2000s. Despite the declining population, Anniston has experienced an increase in median income over the past decade. The racial composition has remained relatively stable, with a slight increase in diversity. These demographic trends, combined with the existing LIHTC inventory, provide insights into the evolving affordable housing needs of Anniston's residents.
