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Affordable Housing in Bolton: LIHTC's Impact on a Mobile, Alabama 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
Bolton, a neighborhood in Mobile, Alabama, contains a significant amount of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory comprises 154 units, all designated as low-income. This affordable housing stock represents approximately 8.2% of the estimated 1,870 total housing units in the neighborhood, indicating a substantial contribution to affordable housing needs, although it falls below the 15-20% target for a well-balanced community.
The LIHTC program has invested $301,935 in tax credits for affordable housing projects in Bolton, averaging $1,961 per unit in federal funding. This demonstrates a significant financial commitment to affordable housing in the area. The neighborhood's LIHTC funded housing dates back to 1998 with the completion of Family Place Apartments, which has provided affordable housing options for over two decades.
Family Place Apartments offers a diverse range of unit types, including 28 one-bedroom units, 112 two-bedroom units, and 14 three-bedroom units. This distribution indicates a focus on housing for small to medium-sized families, with the majority being two-bedroom apartments.
Bolton has experienced population and demographic changes over the past decade. The population increased from 3,743 in 2018 to 4,881 in 2022, suggesting a growing demand for housing. The median income fluctuated during this period, with the most recent data showing $33,714 in 2022, indicating a continued need for affordable housing options.
Racial demographics have also shifted. The Black population increased from 53% in 2018 to 61% in 2022, while the White population remained relatively stable at around 31%. The Hispanic population decreased from 9% to 5% during this period. These demographic changes may influence the ongoing need for diverse and affordable housing options in the neighborhood.
Bolton's LIHTC funded affordable housing inventory, primarily represented by Family Place Apartments, contributes significantly to the neighborhood's housing needs. With 154 low-income units covering 8.2% of the estimated housing stock, it represents a substantial investment in community housing affordability. The project's diverse unit mix caters to various household sizes, focusing on one and two-bedroom apartments. Although the affordable housing stock falls short of the ideal 15-20% target, it remains an important component of Bolton's housing landscape. The neighborhood's changing demographics, including population growth and shifts in racial composition, underscore the ongoing importance of maintaining and potentially expanding affordable housing options to meet the evolving needs of Bolton's residents.
