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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
South Atlanta, a neighborhood in Atlanta, Georgia, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area has 87 total units in LIHTC-funded projects, with 8 units specifically designated as low-income. Based on the 2022 population of 1,461 and an estimated 560 housing units, LIHTC-funded affordable housing comprises approximately 15.5% of the neighborhood's estimated housing inventory.
The LIHTC program has invested $1,400,574 in tax credits in South Atlanta. This equates to an average federal funding of $16,099 per unit across all LIHTC-funded projects in the neighborhood. The affordable housing presence in South Atlanta spans from 2003 to 2007, with two known projects completed during this period. The housing inventory primarily consists of one-bedroom units, with 84 such units across the projects. There are also 3 two-bedroom units, providing options for slightly larger households.
South Atlanta has experienced significant demographic changes over the past decade. The population has increased from 1,058 in 2013 to 1,461 in 2022, a 38% growth. Median income has risen from $16,383 in 2013 to $39,540 in 2022, more than doubling during this period. The racial composition of the neighborhood has remained predominantly Black, though there has been a slight decrease from 95% in 2017 to 89% in 2022. Concurrently, the White population has increased from 3% to 11% during the same period, indicating demographic shifts.
Despite the absence of new LIHTC projects in the last decade, the existing affordable housing stock continues to play a crucial role in the neighborhood. The rising median income and changing racial composition suggest evolving housing needs that may require attention in future housing policy and development decisions.
South Atlanta's LIHTC-funded affordable housing inventory, while not recently expanded, covers a significant portion of the estimated housing stock. The neighborhood has experienced considerable demographic changes, including population growth and rising median incomes. These shifts, coupled with the existing affordable housing stock, present both challenges and opportunities for addressing the evolving housing needs of the community. The data suggests a need for ongoing assessment of affordable housing requirements in South Atlanta to ensure alignment with the changing demographic landscape.