Loading Content...
Affordable Housing in Coffeeville, Alabama: LIHTC's Impact on a Small Rural Town
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Coffeeville, a small town in Alabama, has a modest Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The town has a total of 19 affordable units, all of which are designated as low-income units. Based on the 2022 population of 1,277 and an estimated 489 housing units, the LIHTC-funded affordable housing covers approximately 3.9% of the town's estimated housing inventory.
Coffeeville has received $30,748 in project tax credits from the LIHTC program for affordable housing. With one approximate project, this translates to an average federal funding of $30,748 per project and $1,618 per unit. The town holds 0.02% of Alabama's total LIHTC funding, indicating a relatively small share of the state's affordable housing resources.
The sole LIHTC-funded project in Coffeeville is Field Crest Apartments, completed in 1991. This project has been providing affordable housing in the town for over three decades. The 19 units in Field Crest Apartments are distributed as 6 one-bedroom and 13 two-bedroom units, offering a mix of housing options for low-income residents.
Over the past decade, Coffeeville has experienced a decline in population, from 1,656 in 2014 to 1,277 in 2022. The median income has fluctuated but generally decreased from $30,591 in 2014 to $27,411 in 2022. The racial composition of the town has remained relatively stable, with a slight increase in the white population and a decrease in the Black population.
Despite these demographic changes, no new LIHTC projects have been developed in Coffeeville since 1991. This could be due to various factors, including the town's small size, decreasing population, and potentially changing housing needs.
Coffeeville's LIHTC-funded affordable housing inventory consists of a single project with 19 units, covering approximately 3.9% of the town's estimated housing stock. This falls short of the target percentage for affordable housing in a well-balanced city. However, other programs may contribute to the overall affordable housing inventory. The town's demographic trends, including a declining population and fluctuating median income, may influence the need for additional affordable housing development. The longevity of the Field Crest Apartments project demonstrates a sustained commitment to providing affordable housing options in Coffeeville, albeit on a small scale.
