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Affordable Housing in Centre, Alabama: LIHTC's Impact on a Small Urban Area
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Centre, Alabama, a small urban area with a population of 6,333 as of 2022, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 87 units. This inventory comprises 3.6% of the estimated 2,426 housing units in the city. The LIHTC program has provided $701,550 in project tax credits for affordable housing in Centre.
The city's LIHTC funding represents 0.39% of Alabama's total allocation. The average federal funding per project is $175,387, with approximately 4 projects completed. The average federal funding per unit is $8,064. The affordable housing development in Centre spans 16 years, from 1990 to 2006, with the 1990s experiencing the most activity.
The LIHTC funded housing in Centre includes 14 one-bedroom units, 27 two-bedroom units, and 1 three-bedroom unit. This distribution suggests a focus on accommodating small families and individuals. The first LIHTC project, Cherokee Estates, was completed in 1990, and the most recent, Pine View Crossing, was built in 2006.
Centre's population has fluctuated over the past decade, reaching a peak of 6,796 in 2016 before declining to 6,333 in 2022. The median income has shown variability, with a high of $49,550 in 2018 decreasing to $38,944 in 2022. This recent decline in median income may indicate an increased need for affordable housing options.
The racial demographics of Centre have remained relatively stable. The white population consistently represents the majority, accounting for 87% in 2022. There has been a slight increase in racial diversity, with the Black population growing from 5% in 2013 to 8% in 2022. The Hispanic population has maintained a small but noticeable presence, peaking at 2% in 2017-2018.
Centre's LIHTC funded affordable housing inventory provides a foundation for addressing low-income housing needs. While no new LIHTC projects have been completed in the last decade, the recent decline in median income suggests a potential increased need for affordable housing options. The existing inventory, developed over a 16-year period, offers a mix of unit sizes to accommodate various household compositions. As Centre continues to evolve demographically, ongoing assessment of affordable housing needs will be crucial to ensure adequate support for its low-income residents.
