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Affordable Housing in Prichard, Alabama: A Demographic and LIHTC Analysis
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Prichard, Alabama, with a population of 28,181 as of 2022, has utilized the Low-Income Housing Tax Credit (LIHTC) program to provide affordable housing. The city has 265 units in LIHTC-funded projects, of which 166 are designated as low-income units. These affordable housing units comprise approximately 2.5% of Prichard's estimated housing inventory of 10,797 units.
Prichard has received $1,858,189 in project tax credits through the LIHTC program. With approximately 5 projects, this translates to an average federal funding of $371,638 per project and $7,012 per unit. The city holds 1.04% of Alabama's total LIHTC funding, indicating a notable share of the state's affordable housing resources.
Affordable housing has been part of Prichard's landscape for over three decades. The first LIHTC projects, Alexander Court Apartments and Saxony Apartments, were completed in 1989. The most recent project, Hope Family Vi, was finished in 2004. The 1990s saw the most activity in affordable housing development, with projects like Arbor Pointe Apartments (1997) and Chancery Square (1999) being completed.
The LIHTC-funded projects in Prichard offer a diverse range of unit sizes. The inventory includes 16 one-bedroom units, 92 two-bedroom units, 102 three-bedroom units, and 12 four-bedroom units. This distribution suggests a focus on accommodating families of various sizes within the affordable housing stock.
Over the past decade, Prichard has experienced a decline in population, from 34,868 in 2018 to 28,181 in 2022. Despite this decrease, the median income has shown some fluctuation, rising from $30,562 in 2018 to $32,888 in 2022. The racial composition of the city has remained relatively stable, with a slight increase in the Black population from 80% in 2018 to 83% in 2022, while the White population decreased from 18% to 15% during the same period.
The lack of new LIHTC projects in the last decade could be attributed to the declining population, which may have reduced the immediate need for additional affordable housing units. However, the modest increase in median income suggests that there might still be a segment of the population that could benefit from affordable housing options.
Prichard's LIHTC-funded affordable housing inventory represents a small but significant portion of the city's housing stock. The city has benefited from federal funding for affordable housing projects over several decades, with a concentration of development in the 1990s and early 2000s. While the population has declined in recent years, the existing LIHTC projects continue to provide important housing options for low-income residents. The diverse range of unit sizes in these projects suggests an effort to meet the needs of various household compositions within the community.
