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Affordable Housing in Fairburn Mays: LIHTC Impact on Atlanta Neighborhood
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Fairburn Mays, a neighborhood in Atlanta, Georgia, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory comprises 420 total units, with 216 designated as low-income units. Based on the 2022 population of 2,168 and using the national average household size, the estimated housing units in the neighborhood are approximately 831. The LIHTC funded affordable housing accounts for about 50.5% of the estimated housing inventory, indicating a substantial contribution to the neighborhood's housing stock.
The LIHTC projects in Fairburn Mays have received $457,741 in project tax credits. This equates to an average federal funding of approximately $1,090 per unit across all LIHTC-funded projects in the neighborhood.
The first LIHTC project in Fairburn Mays, Hidden Hollow Apartments, was completed in 1991, while the most recent, Providence At Cascade, was finished in 2012. This indicates a 21-year span of LIHTC-funded affordable housing development in the neighborhood. The 2000s saw the most affordable housing activity, with three projects completed during this decade: Big Bethel Village (2003), Preserve At Cascade (2005), and Providence At Cascade (2012).
The LIHTC-funded housing stock in Fairburn Mays is primarily composed of two-bedroom units, with 184 such units available. There are also 16 one-bedroom units and 4 three-bedroom units. This distribution suggests a focus on accommodating small families or couples within the affordable housing inventory.
Over the past decade, Fairburn Mays has experienced demographic shifts. The population peaked in 2016 at 3,148 residents but has since declined to 2,168 in 2022. Despite this population decrease, the median income has shown a general upward trend, rising from $24,204 in 2013 to $41,877 in 2022.
The racial composition of the neighborhood has remained predominantly Black, consistently above 90% throughout the decade. However, there has been a slight increase in diversity, with small percentages of White, Hispanic, and multi-racial residents emerging in recent years.
The lack of new LIHTC projects since 2012 may be related to the increasing median income and the substantial existing affordable housing stock. The rising income levels could indicate a reduced need for additional low-income housing units in recent years.
Fairburn Mays has a significant LIHTC-funded affordable housing presence, covering approximately half of the estimated housing inventory. The neighborhood saw consistent development of affordable housing from 1991 to 2012, with the most activity occurring in the 2000s. The housing stock is primarily composed of two-bedroom units, suggesting a focus on small families or couples. While the population has decreased in recent years, median income has risen, potentially explaining the lack of new LIHTC projects since 2012. The neighborhood remains predominantly Black, with a slight increase in diversity over the past decade. These trends provide insights into the evolving housing needs and demographics of Fairburn Mays.
