Loading Content...
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Northport, Alabama, a city with a population of 46,371 as of 2022, has utilized the Low-Income Housing Tax Credit (LIHTC) program to fund affordable housing projects. The program has supported 309 total units, with 289 designated as low-income units. These LIHTC-funded units represent approximately 1.74% of the city's estimated housing inventory of 17,767 units.
Northport has received $2,080,159 in project tax credits through the LIHTC program. This funding has been distributed across approximately seven projects, resulting in an average of $297,165 in federal funding per project and $6,732 per unit. Northport's allocation represents 1.17% of Alabama's total LIHTC funding.
The city's involvement with LIHTC-funded affordable housing spans from 1990 to 2011. The first project, Wright Apts I, was completed in 1990, while the most recent, Providence Place Apts, was finished in 2011. The 1990s saw the highest activity, with three projects completed during that decade.
The housing unit mix in Northport's LIHTC projects includes 40 one-bedroom, 170 two-bedroom, and 99 three-bedroom units. This distribution indicates a focus on accommodating families and small households. Two projects, Hampton Point Apts (2001) and Grand View Apts (2002), were designed for individuals with mental illness, likely incorporating specialized features and support services.
Northport has experienced significant population growth, increasing from 38,034 in 2015 to 46,371 in 2022, a 22% increase. This growth has been accompanied by a rise in median income from $60,289 in 2015 to $71,980 in 2022. The racial composition has remained relatively stable, with a slight increase in diversity. The White population decreased marginally from 73% to 72% between 2015 and 2022, while the Black population increased from 20% to 21%. The Hispanic population has remained steady at approximately 3-4%.
Despite population growth and rising median income, no new LIHTC projects have been recorded since 2011. This could be due to various factors, including changes in local housing policies, availability of alternative affordable housing programs, or shifts in development priorities.
Northport's LIHTC-funded affordable housing inventory has provided essential low-income units over the years. The city has leveraged over $2 million in tax credits to create 309 affordable units, with a focus on two and three-bedroom apartments. The inclusion of projects targeting individuals with mental illness demonstrates efforts to address specific community needs.
The significant population growth and income increases in recent years, without a corresponding increase in LIHTC projects, present an opportunity for city planners and policymakers to reassess current affordable housing needs and consider whether additional LIHTC or other affordable housing initiatives might be beneficial to maintain a balanced housing market in Northport.