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Affordable Housing in Sylacauga: LIHTC's Impact on the Marble City
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Sylacauga, Alabama, known as "The Marble City," has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 299 units, with 276 designated as low-income units. This represents approximately 4.04% of the city's estimated 7,409 housing units. The city has received $1,440,912 in project tax credits through the LIHTC program, distributed across approximately 8 projects. The average federal funding per project is $180,114, with an average of $4,819 per unit. Sylacauga's LIHTC funding accounts for 0.81% of Alabama's total.
The development of LIHTC-funded housing in Sylacauga spans 23 years, from 1988 to 2011. The first project, Sylacauga Garden Apts III, was completed in 1988, while the most recent, Coosa Village Apts, was finished in 2011. The 1990s saw the highest number of affordable housing project completions, with three projects: Marble Valley Manor Apts, Sylacauga Heritage Apts, and Hickory Village.
The LIHTC-funded housing in Sylacauga comprises 63 one-bedroom units, 107 two-bedroom units, and 20 three-bedroom units. Two projects, Hickory Village and Miranda Villas I, are specifically designed for individuals with mental illness, likely incorporating specialized services and design features to support residents with mental health needs.
Demographic trends in Sylacauga show a slight population decline from 21,274 in 2013 to 19,337 in 2022. During this period, the median income increased from $35,394 to $46,130, representing a 30.3% growth. The racial distribution remained relatively stable, with a minor increase in the Black population from 28% to 31% and a slight decrease in the White population from 67% to 64% between 2013 and 2022.
The last LIHTC project in Sylacauga was completed in 2011, predating the available demographic data. The increasing median income and relatively stable population may indicate a reduced need for additional low-income housing in recent years.
Sylacauga's LIHTC-funded affordable housing inventory represents 4.04% of the estimated housing stock. The city has received over $1.4 million in tax credits, supporting 8 projects over 23 years. While LIHTC development has not continued in the last decade, the city's demographic trends show a slight population decline and increasing median income. The existing LIHTC projects, including those tailored for individuals with mental illness, contribute to addressing diverse housing needs in the community.
