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Affordable Housing in Camden, Alabama: A Decade of LIHTC Projects
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Camden, Alabama, has a total of 40 affordable housing units funded by the Low-Income Housing Tax Credit (LIHTC) program. All of these units are designated as low-income. Based on the 2022 population of 3,515 and the national average household size, Camden's estimated housing inventory is approximately 1,347 units. The LIHTC-funded affordable housing represents about 3% of the city's estimated housing inventory.
The city has received $33,483 in project tax credits through the LIHTC program. With three approximate projects, this averages to $11,161 in federal funding per project, or $837 per unit. Camden's share of Alabama's total LIHTC funding is 0.02%, indicating a relatively small portion of the state's affordable housing resources.
Camden's affordable housing development through LIHTC occurred between 1987 and 1993. Country Squire Apartments was the first project, and Deercreek Village was the most recent. This six-year period established LIHTC-funded affordable housing in Camden. The 1990s saw the most activity, with two out of the three projects completed during this decade.
The LIHTC-funded housing inventory in Camden consists of 11 one-bedroom units and 8 two-bedroom units. This distribution suggests a focus on smaller households or individuals in need of affordable housing options.
Camden's population has remained relatively stable over the past decade, fluctuating between 3,300 and 3,700 residents. The median income has shown an overall upward trend, increasing from $25,095 in 2013 to $44,737 in 2022, despite some fluctuations. This economic improvement might partially explain the lack of new LIHTC projects in recent years.
The racial composition of Camden has remained fairly consistent. The majority of the population is Black (around 60-66%), with a significant White population (around 29-37%). The proportion of residents identifying as two or more races has slightly increased from 0% to 5% over the past decade.
Camden's LIHTC-funded affordable housing inventory provides 40 low-income units to the community. The city's affordable housing development through LIHTC was concentrated in the late 1980s and early 1990s. Despite the lack of recent LIHTC projects, Camden has experienced a general increase in median income over the past decade, which may influence the current demand for affordable housing. The stable population and consistent racial demographics suggest a relatively steady community composition during this period.
