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Affordable Housing in Rockford, Alabama: Analysis of LIHTC-Funded Units
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Rockford, a town in Alabama, possesses a limited Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The town has a total of 19 affordable housing units, all of which are categorized as low-income units. Based on the estimated housing inventory of 461 units for the town's 2022 population, the LIHTC-funded affordable housing comprises approximately 4.1% of the city's housing stock.
Rockford has received $30,089 in project tax credits from the LIHTC program for affordable housing. With one project, this equates to an average federal funding of $30,089 per project and $1,584 per unit. The town holds 0.02% of the total state LIHTC funding.
The single LIHTC project in Rockford, Stone Gate, was completed in 1991, marking the inception of LIHTC-funded affordable housing in the town. This project has been operational for over three decades. The Stone Gate project consists of 19 units, including 5 one-bedroom and 14 two-bedroom units. This distribution indicates a focus on accommodating small families and individuals in the affordable housing inventory.
Over the past decade, Rockford has experienced significant population growth, increasing from 803 residents in 2013 to 1,202 in 2022. The median income has fluctuated, starting at $34,399 in 2013, peaking at $39,249 in 2019, and then decreasing to $33,600 in 2022.
In terms of racial distribution, the town has seen a slight decrease in the Black population, from 28% in 2013 to 24% in 2022, while the White population has remained relatively stable, moving from 72% to 70% during the same period. The Hispanic population has remained consistently low, ranging between 1-3% since 2016.
Despite the population growth and income fluctuations, no new LIHTC projects have been recorded in the last decade. This could be attributed to various factors, including potential availability of other affordable housing programs or changing priorities in housing development.
Rockford's LIHTC-funded affordable housing inventory, while limited, has been a consistent part of the community since 1991. The single project, Stone Gate, provides 19 low-income units, primarily consisting of one and two-bedroom apartments. While the town has experienced significant population growth and income fluctuations over the past decade, there has not been a corresponding increase in LIHTC-funded housing. This analysis provides an overview of Rockford's affordable housing landscape, highlighting the long-standing presence of LIHTC-funded units in the community.
