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Affordable Housing in Roanoke, Alabama: LIHTC's Impact on a Small Urban Area
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Roanoke, Alabama, a small city in the southeastern United States, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 110 units, all designated as low-income. This comprises approximately 3.62% of the city's estimated 3,037 housing units. The city has received $972,337 in project tax credits from the LIHTC program, distributed across three projects, averaging $324,112 per project. The average federal funding per unit is $8,839, with Roanoke holding 0.55% of Alabama's total LIHTC funding.
The city's affordable housing development through LIHTC spans from 1999 to 2010. The first project, Alfred Radney Apts, was completed in 1999, while the most recent, Wellington Terrace, was finished in 2010. The 2000s were the most active period for affordable housing development, with two out of three projects completed during this decade.
The LIHTC funded housing in Roanoke offers a variety of unit types, including 12 one-bedroom, 64 two-bedroom, and 34 three-bedroom units. This distribution indicates an effort to accommodate families of different sizes within the affordable housing framework.
Roanoke has experienced a gradual population decline over the past decade, from 8,916 in 2013 to 7,927 in 2022. The median income has fluctuated, reaching a peak of $46,971 in 2017 before decreasing to $43,560 in 2022. The racial composition of the city has remained relatively stable, with the white population consistently accounting for approximately 62% of residents, and the Black population around 33-35%.
Despite the absence of new LIHTC projects in the last decade, the demographic trends suggest a potential ongoing need for affordable housing. The slight decrease in population and fluctuating median income may indicate economic challenges that could necessitate continued affordable housing options.
Roanoke's LIHTC funded affordable housing represents a small but significant portion of its housing stock. The city has utilized federal funding to create 110 low-income units across three projects over an 11-year period. While no new LIHTC projects have been developed in the past decade, the demographic trends suggest a continued need for affordable housing options. The existing inventory provides a range of unit sizes, potentially addressing diverse household needs within the community.
