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Affordable Housing in Marion, Alabama: LIHTC's Impact on a Small City
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Marion, Alabama, exhibits a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The city's LIHTC inventory consists of 117 total affordable units, all of which are designated as low-income units. Based on the estimated 1,348 housing units for the city's 2022 population, LIHTC-funded affordable housing represents approximately 8.7% of the city's housing inventory.
Marion has received $246,454 in project tax credits from the LIHTC program. With three projects, this equates to an average federal funding of $82,151 per project and $2,107 per unit. The city accounts for 0.14% of the total state LIHTC funding, indicating a small but notable contribution to Alabama's affordable housing efforts.
The initial LIHTC project in Marion, Jackson-Johnson Townhomes, was completed in 1996, while the most recent project, Perry Ridge Apts, was finished in 2011. This 15-year span demonstrates a sustained commitment to affordable housing development in the city. The 2000s were the most active period for LIHTC-funded housing, with two of the three projects completed during this decade.
The affordable housing inventory in Marion consists of 45 one-bedroom units, 62 two-bedroom units, and 1 three-bedroom unit. This distribution suggests a focus on accommodating smaller households and families.
Marion has experienced a slight decline in population over the past decade, from 3,776 in 2015 to 3,517 in 2022. The median income has fluctuated significantly, rising from $17,113 in 2015 to $23,459 in 2022, with a peak of $38,834 in 2021. This volatility in income levels may indicate an ongoing need for affordable housing options.
Regarding racial distribution, the city has seen a slight decrease in the Black population (from 59% in 2015 to 60% in 2022) and a small increase in the White population (from 36% in 2015 to 37% in 2022). The Hispanic population has remained relatively stable at around 2%. These demographic shifts, while minor, could influence the demand for affordable housing in the city.
Marion's LIHTC-funded affordable housing inventory plays a significant role in addressing the housing needs of its low-income residents. With 117 units covering 8.7% of the estimated housing inventory, the LIHTC program has made a substantial contribution to the city's affordable housing stock. The development of these projects over a 15-year period demonstrates a consistent effort to provide affordable housing options. Despite some population decline and income volatility in recent years, the sustained presence of LIHTC projects suggests an ongoing commitment to meeting the housing needs of the diverse community.
