Loading Content...
Affordable Housing in Carrollton, Alabama: A Decade of LIHTC Impact
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Carrollton, Alabama, has a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city has 126 total units in LIHTC funded projects, with 81 designated as low-income units. Based on an estimated housing inventory of 1,194 units, LIHTC funded affordable housing comprises approximately 10.6% of the city's housing stock, indicating a substantial contribution to affordable housing needs.
Carrollton has received $432,540 in project tax credits from the LIHTC program. With three projects, this equates to an average federal funding of $144,180 per project. The average federal funding per unit is $3,432. Carrollton holds 0.24% of the total state LIHTC funding, representing a small but significant portion of Alabama's affordable housing efforts.
The city's affordable housing development spans nearly a decade, with the first LIHTC project, Carrollton Manor Apartments, completed in 1994, and the most recent, Sandpiper Apartments, in 2003. The late 1990s and early 2000s saw the most affordable housing activity, with Summer Place Apartments completed in 1998.
The LIHTC funded projects in Carrollton offer a diverse range of unit types. The inventory includes 30 one-bedroom units, 44 two-bedroom units, 48 three-bedroom units, and 4 four-bedroom units. This distribution suggests an attempt to accommodate various family sizes and needs.
Over the past decade, Carrollton's population has fluctuated, peaking at 3,488 in 2019 before declining to 3,116 in 2022. The median income has remained relatively stable, around $35,000. Racial demographics have shifted, with the white population increasing from 36% in 2019 to 51% in 2022, while the Black population decreased from 43% to 27% in the same period. The Hispanic population has remained steady at approximately 20%.
These demographic changes, particularly the stable median income and shifting racial composition, may influence future affordable housing needs in Carrollton. While no new LIHTC projects have been constructed in the last decade, the existing inventory continues to play a crucial role in meeting the community's affordable housing needs.
Carrollton's LIHTC funded affordable housing inventory, comprising 10.6% of the estimated housing stock, represents a significant contribution to the city's affordable housing landscape. The town has received over $430,000 in tax credits, distributed across three projects built between 1994 and 2003. The diverse unit mix caters to various household sizes, with a focus on one to three-bedroom apartments. While no new LIHTC projects have been developed in recent years, the existing inventory continues to serve the community amidst demographic shifts, including a stable median income and changing racial composition.
