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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Crestline, a neighborhood in Birmingham, Alabama, had a population of 9,530 as of 2022. The neighborhood's Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory comprises 9 total units, all of which are designated as low-income units. Based on the estimated housing inventory of 3,651 units, LIHTC funded affordable housing represents approximately 0.25% of the neighborhood's housing stock.
The LIHTC program has provided $459,024 in tax credits for affordable housing in Crestline. With 9 total units funded, this equates to an average of $51,002 per unit in federal funding. The neighborhood's only LIHTC project, Augusta Pointe, was completed in 1998, indicating that affordable housing has been present in Crestline for over two decades.
Augusta Pointe offers a variety of unit types, including 2 one-bedroom units, 4 two-bedroom units, and 3 three-bedroom units. This distribution indicates a focus on accommodating small to medium-sized households.
Over the past decade, Crestline's population has remained relatively stable, fluctuating between 8,787 and 9,530 residents. The median income has shown an overall upward trend, increasing from $119,026 in 2017 to $130,982 in 2022. This rise in median income may explain the absence of new LIHTC projects in recent years, as the neighborhood's overall economic status has improved.
Regarding racial demographics, Crestline has maintained a predominantly white population, consistently above 90% throughout the 2010s and early 2020s. The Black population has decreased slightly from 7% in 2013 to 3% in 2022, while the Hispanic population has grown marginally from 1% to 2% during the same period.
Crestline's LIHTC funded affordable housing inventory is limited to a single project completed in 1998, providing 9 low-income units. This represents a small fraction (0.25%) of the estimated housing stock in the neighborhood. The area has experienced economic growth over the past decade, as evidenced by rising median incomes. While the racial composition has remained largely stable, there have been slight shifts in minority populations. The absence of new LIHTC developments in recent years may be attributed to the neighborhood's increasing affluence and changing demographics.