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Affordable Housing in Grant, Alabama: Single LIHTC Project's 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
Grant, Alabama, a city with a population of 8,140 as of 2022, has one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project. This project provides 24 low-income units, which represents approximately 0.77% of the city's estimated housing inventory of 3,119 units.
The city has received $17,625 in project tax credits from the LIHTC program for affordable housing. This amount equates to an average federal funding of $17,625 per project and $734.38 per unit. Grant accounts for 1% of the total state LIHTC funding.
The sole LIHTC project in Grant, Suncrest Apartments, was completed in 1998. This project has provided affordable housing in the city for over two decades. It consists of 24 units, equally distributed among one-bedroom, two-bedroom, and three-bedroom apartments, with 8 units of each type.
Grant's population has remained relatively stable over the past decade, fluctuating between 7,500 and 8,300 residents. The median income has shown an overall upward trend, increasing from $45,486 in 2017 to $52,363 in 2022, with a peak of $66,562 in 2021. This trend may indicate an improving economic situation for some residents.
The racial composition of Grant has remained predominantly white, consistently above 90% throughout the past decade. There has been a slight increase in diversity, with small increases in Hispanic and Native American populations, though these remain below 3% each.
Grant's LIHTC-funded affordable housing inventory consists of a single project completed in 1998, providing 24 low-income units. This project represents a small portion of the city's estimated housing stock but has been a consistent presence for over two decades. The city's demographic trends show a stable population with a gradually increasing median income and a slight increase in racial diversity. These factors may influence the ongoing need for affordable housing in Grant.
