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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Jemison, Alabama, with a population of 10,527 as of 2022, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 72 units. All of these units are designated as low-income. Based on an estimated housing inventory of 4,033 units, LIHTC-funded affordable housing represents approximately 1.78% of the city's housing stock.
Jemison has received $384,572 in project tax credits through the LIHTC program. With two projects, this translates to an average federal funding of $192,286 per project. The average federal funding per unit is $5,341. Jemison holds 0.22% of the total state LIHTC funding.
The city's affordable housing development spans from 1993 to 2003. The first project, Parkside Apartments, was completed in 1993, and the most recent, Quail Ridge Apartments, in 2003. The 2000s saw the most affordable housing development activity in Jemison.
The LIHTC-funded housing inventory in Jemison consists of 12 one-bedroom units, 48 two-bedroom units, and 12 three-bedroom units. This distribution suggests a focus on accommodating small to medium-sized families.
Over the past decade, Jemison's population has remained relatively stable, fluctuating between 9,000 and 10,500 residents. The median income has shown an overall increasing trend, rising from $45,463 in 2013 to $55,815 in 2022. This income growth may indicate a changing economic landscape in the city.
Racial demographics have remained fairly consistent, with the white population comprising the majority (77% in 2022). There has been a slight increase in the Hispanic population, growing from 8% in 2013 to 15% in 2022. The black population has remained relatively stable at around 5-7% during this period.
No new LIHTC projects have been developed in Jemison since 2003. The steady population and increasing median income might suggest a reduced need for additional low-income housing in recent years. However, the growing Hispanic population could potentially indicate an evolving demographic that may have different housing needs.
Jemison's LIHTC-funded affordable housing inventory provides 72 low-income units to the community. The city has utilized federal tax credits effectively, receiving an average of $192,286 per project. The housing stock is diverse, catering to various household sizes. While no new LIHTC projects have been developed in recent years, the city's demographic shifts, particularly the growth in the Hispanic population and overall income levels, may influence future affordable housing needs. Continuous monitoring of these trends will be crucial for addressing potential housing requirements in Jemison.