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Affordable Housing in Zip Code 31326: Two Decades of LIHTC Development in Rincon, Georgia
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 31326 in Rincon, Georgia, exhibits a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. This area contains 350 total units in LIHTC-funded projects, with 148 of these designated as low-income units. Based on the 2022 population of 23,432 and an estimated 8,978 housing units, the LIHTC-funded affordable housing comprises approximately 3.9% of the zip code's estimated housing inventory.
The LIHTC projects in zip code 31326 have received $4,286,813 in tax credits, averaging about $12,248 per unit across all LIHTC-funded projects. This funding represents 1.27% of Georgia's total LIHTC allocations, indicating a substantial investment in affordable housing for this area.
The affordable housing presence in zip code 31326 spans over two decades. The earliest recorded project, Fair Oaks Apartments, was completed in 1995, while the most recent, Town Park Commons, was finished in 2020. The 2010s experienced the most activity, with five projects completed during this decade, including Effingham Goshen Crossing, Silverwood Place, and Goshen Crossing II.
The LIHTC-funded housing stock in zip code 31326 offers a range of unit types. There are 98 one-bedroom units, 166 two-bedroom units, and 42 three-bedroom units, accommodating various household sizes and needs.
Over the past decade, zip code 31326 has experienced steady population growth, increasing from 19,483 in 2015 to 23,432 in 2022. This 20% population increase suggests a growing demand for housing, including affordable options.
Median income in zip code 31326 has fluctuated, ranging from $69,624 to $77,072 between 2013 and 2022. This variability in income levels emphasizes the importance of maintaining affordable housing options for lower-income residents.
The racial composition of zip code 31326 has remained relatively stable, with a slight decrease in the white population (from 78% in 2015 to 72% in 2022) and small increases in black (12% to 16%) and Hispanic (4% to 6%) populations. This gradual diversification may influence future affordable housing needs and planning.
Zip code 31326 demonstrates a consistent commitment to affordable housing through LIHTC investments over the past 25 years. The area's 350 LIHTC-funded units, including 148 low-income units, play a crucial role in addressing affordable housing needs. With steady population growth and evolving demographics, maintaining and potentially expanding affordable housing options will likely remain important for this community's development and diversity.
