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Affordable Housing in Jasper, Alabama: LIHTC Funding and Demographic Trends
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Jasper, a city in Alabama, has a population of 28,138 as of 2022. The city's Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory comprises 185 total units, with 149 designated as low-income units. Based on the estimated housing inventory of 10,781 units, the LIHTC-funded affordable housing represents approximately 1.72% of the city's housing stock.
Jasper has received $1,469,268 in project tax credits for affordable housing through the LIHTC program. With approximately 4 projects, this translates to an average federal funding of $367,317 per project and $7,941 per unit. The city holds 0.83% of Alabama's total LIHTC funding.
The first LIHTC project in Jasper, Westfork Apts, was completed in 1995, while the most recent, High Forest Apts II, was finished in 2009. This indicates that affordable housing has been present in the city for at least 14 years. The 2000s saw the most affordable housing development, with three projects completed during this decade: Mountainside Apts (2003), High Forest Apts I (2007), and High Forest Apts II (2009).
The LIHTC-funded projects in Jasper offer a mix of unit sizes, including 44 one-bedroom, 86 two-bedroom, and 19 three-bedroom units. This distribution suggests a focus on accommodating small to medium-sized families.
Over the past decade, Jasper's population has remained relatively stable, with a slight decrease from 28,350 in 2010 to 28,138 in 2022. The median income has shown an upward trend, increasing from $46,840 in 2013 to $52,865 in 2022. This rise in median income might indicate a reduced need for additional affordable housing in recent years.
Racial demographics have remained fairly consistent, with the white population comprising around 85-86% of the total. There has been a slight increase in the Hispanic population, from 2% in 2013 to 4% in 2022, while the Black population has decreased slightly from 8% to 6% during the same period.
Jasper's LIHTC-funded affordable housing represents a small but significant portion of the city's housing stock. The city has seen consistent development of affordable housing projects from 1995 to 2009, with a focus on the 2000s. While the population has remained stable, the rising median income might suggest changing affordable housing needs. The racial composition of the city has remained relatively constant, with a slight increase in Hispanic residents. These factors collectively provide insight into Jasper's affordable housing landscape and its evolution over time.
