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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Selma, Alabama, a city with significant civil rights history, has a substantial inventory of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The city contains 479 total units in LIHTC funded projects, with 325 designated as low-income units. Based on an estimated housing inventory of 6,615 units, LIHTC funded affordable housing comprises approximately 7.2% of the city's housing stock.
Selma has received $3,539,394 in project tax credits for affordable housing through the LIHTC program. With approximately 12 projects, this equates to an average of $294,950 in federal funding per project. The average federal funding per unit is $7,389. Selma accounts for 1.99% of Alabama's total LIHTC funding, which is notable for a city of its size.
The first LIHTC project in Selma, Cosby Rentals, was completed in 1990, while the most recent completed project listed is Addison Way from 2008. This indicates that affordable housing has been a focus in Selma for at least 18 years. The 1990s experienced the most affordable housing activity, with five projects completed during that decade.
The LIHTC funded projects in Selma provide a mix of unit types, including 45 one-bedroom, 283 two-bedroom, and 97 three-bedroom units. This distribution suggests a focus on accommodating families of various sizes. One notable project is Magnolia Gardens I, completed in 2002, which targets individuals with mental illness. This specialized housing addresses the unique needs of a vulnerable population within the community.
Over the past decade, Selma has experienced a significant population decline, from 21,098 in 2013 to 17,264 in 2022. Despite this decrease, the median income has risen from $28,203 in 2013 to $32,008 in 2022. The racial composition has remained relatively stable, with a slight decrease in the Black population from 74% in 2013 to 73% in 2022, and a decrease in the White population from 22% to 21% over the same period.
The absence of new LIHTC projects in the last decade may be partially attributed to the declining population, which could indicate a reduced demand for new affordable housing units. However, the rising median income suggests that there may still be a need for affordable housing options for lower-income residents.
Selma's LIHTC funded affordable housing inventory represents a significant portion of the city's housing stock, covering approximately 7.2% of estimated units. The city has received substantial federal funding for these projects, which span various unit types to accommodate different household sizes. While no new LIHTC projects have been recorded in the past decade, the existing inventory continues to play a crucial role in providing affordable housing options for Selma's residents, particularly as the city experiences demographic shifts and economic changes.