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Affordable Housing in Fountain Heights: LIHTC Impact on a Diverse Birmingham 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
Fountain Heights, a neighborhood in Birmingham, Alabama, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory comprises 144 total units, with 76 designated as low-income units. Based on the 2022 population of 2,333 and the estimated 894 housing units, LIHTC funded affordable housing represents approximately 16.1% of the neighborhood's estimated housing inventory. This percentage aligns with the target range of 15-20% for affordable housing stock in a balanced community.
The LIHTC projects in Fountain Heights have received $522,338 in project tax credits, averaging approximately $3,627 per unit. The neighborhood has seen LIHTC projects over a 15-year period, with the first project, Hampton Court, completed in 1990, and the most recent, Phoenix Building, finished in 2005. This period demonstrates a sustained commitment to affordable housing development in the area.
The 1990s saw the most affordable housing activity, with two projects completed during this decade: Hampton Court (1990) and Citycenter Place (1996). The Phoenix Building, completed in 2005, represents the most recent addition to the neighborhood's affordable housing stock. The LIHTC funded housing in Fountain Heights offers a mix of unit types, with a predominance of two-bedroom units (72 in total) and 13 one-bedroom units available. This distribution suggests a focus on accommodating small families or couples within the affordable housing inventory.
Over the past decade, Fountain Heights has experienced demographic shifts. The population has remained relatively stable, with a slight decrease from 2,721 in 2013 to 2,333 in 2022. However, median income has increased significantly, rising from $15,996 in 2013 to $32,566 in 2022. This upward trend in income could potentially impact the demand for affordable housing in the area.
Racial demographics have remained fairly consistent, with the Black population representing the majority (around 80% in recent years). There has been a slight increase in diversity, with small percentages of Hispanic and multiracial residents emerging in recent years.
Fountain Heights demonstrates a steady commitment to affordable housing through its LIHTC funded projects. The neighborhood's affordable housing stock, covering about 16.1% of the estimated housing inventory, aligns well with recommended targets. The mix of unit types, predominantly two-bedrooms, suggests a focus on small families or couples. While no new LIHTC projects have been built in the last decade, the significant increase in median income and stable population trends may indicate changing housing needs in the area. The long-standing presence of LIHTC projects, spanning from 1990 to 2005, reflects a sustained effort to provide affordable housing options in this Birmingham neighborhood.
