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Affordable Housing in Oxmoor: A Decade of Growth and Limited LIHTC Development
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Oxmoor, a neighborhood in Birmingham, Alabama, has a population of 24,402 as of 2022. The Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory in Oxmoor consists of 10 total units, with 1 unit designated as low-income. Based on an estimated 9,349 housing units in the neighborhood, the LIHTC-funded affordable housing comprises approximately 0.11% of the neighborhood's estimated housing inventory.
The LIHTC program has provided $1,019,725 in project tax credits for affordable housing in Oxmoor. This equates to an average federal funding of $101,973 per unit. The neighborhood has one LIHTC project, Glenbrook At Oxmoor Valley Phase I, completed in 2009. This project marks the introduction of LIHTC-funded affordable housing in the area, indicating at least 13 years of affordable housing presence in Oxmoor.
The project consists of 10 total units, including 2 one-bedroom units, 6 two-bedroom units, and 2 three-bedroom units. This distribution indicates a focus on accommodating small to medium-sized households within the affordable housing inventory.
Over the past decade, Oxmoor has experienced significant population growth, increasing from 19,189 in 2013 to 24,402 in 2022. This represents a 27.2% increase in population. Concurrently, the median income has risen from $69,515 in 2013 to $94,878 in 2022, indicating a 36.5% increase in median household income.
The racial composition of Oxmoor has remained relatively stable over this period. The white population has decreased from 60% in 2013 to 57% in 2022, while the Black population has decreased from 31% to 28%. The Asian population has increased from 2% to 6%, and the Hispanic population has grown from 3% to 5%.
Despite the population growth and rising median income, there has not been an increase in LIHTC-funded affordable housing projects in the last decade. This may be attributed to the relatively high median income in the area, potentially reducing the perceived need for additional low-income housing units.
Oxmoor's LIHTC-funded affordable housing inventory is limited, with only one project completed in 2009 providing 10 units. The neighborhood has experienced significant population growth and a substantial increase in median income over the past decade. While the racial composition has remained relatively stable, there has been a slight increase in diversity. The absence of recent LIHTC projects, despite population growth, may be attributed to the area's high median income. It is important to note that other affordable housing programs not captured in this data may be addressing the neighborhood's housing needs.
