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Affordable Housing in Centreville, Alabama: Three Decades of LIHTC Program Impact
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Centreville, Alabama, a small city with historical roots dating back to the early 19th century, has incorporated affordable housing through the Low-Income Housing Tax Credit (LIHTC) program. This program has significantly contributed to the city's housing inventory.
The LIHTC-funded affordable housing inventory in Centreville comprises 130 units, all designated as low-income units. These units represent approximately 8.1% of the city's estimated 1,597 housing units, indicating a substantial role for LIHTC projects in providing affordable housing options for Centreville residents.
Centreville has received $206,482 in project tax credits through the LIHTC program. With five approximate projects, this equates to an average federal funding of $41,296 per project and $1,588 per unit. The city holds 0.12% of Alabama's total LIHTC funding, representing a modest but significant contribution to the state's affordable housing initiatives.
Affordable housing has been present in Centreville for over three decades. The initial LIHTC project, Countrywood Apts I, was completed in 1988, while the most recent project, Gables Crossing, was finished in 2009. The 1990s experienced the highest activity in affordable housing development, with three projects completed: Brantwood Lane Apts (1991), Countrywood I & II Apts (1993), and Hunter Pointe Apts (1995).
The LIHTC-funded housing in Centreville offers a variety of unit sizes to accommodate different household needs. The inventory includes 5 one-bedroom units, 62 two-bedroom units, and 32 three-bedroom units. This distribution suggests a focus on housing for small to medium-sized families.
Demographic trends over the past decade show fluctuations in Centreville's population, with a general upward trend from 3,464 in 2017 to 4,167 in 2022. The median income has increased slightly, rising from $54,611 in 2017 to $54,321 in 2022, indicating a minor improvement in economic conditions. The racial composition of the city has remained relatively stable, with a predominantly white population (73% in 2022) and a significant Black population (25% in 2022).
No new LIHTC projects have been constructed in Centreville since 2009. However, the demographic data suggests a potential need for additional affordable housing. The population growth and modest income increases could indicate a growing demand for affordable housing options, particularly for lower-income residents who may be facing increased housing costs.
In conclusion, Centreville's LIHTC-funded affordable housing inventory represents a significant portion of the city's housing stock, providing essential low-income housing options. The city has maintained a consistent presence of affordable housing projects over the past three decades, with a mix of unit sizes to accommodate various household needs. While recent years have not seen new LIHTC developments, the changing demographics and economic conditions may warrant further assessment of affordable housing needs in Centreville.
