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Affordable Housing in Zip Code 35022: LIHTC Funding and Demographic Shifts
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 35022, located in Bessemer, Alabama, contains 136 affordable housing units funded by the Low-Income Housing Tax Credit (LIHTC) program. These units, all designated as low-income, constitute approximately 1.36% of the estimated 10,030 housing units in the area, based on the 2022 population of 26,179 and the national average household size of 2.61.
The LIHTC program has invested $527,375 in tax credits for affordable housing projects in this zip code, averaging about $3,878 per unit. This investment represents 0.3% of the total LIHTC funding allocated to Alabama. The affordable housing presence in zip code 35022 dates back to at least 1996, with the completion of the Flint Hill Pointe project, which has provided housing options for over 25 years.
The Flint Hill Pointe project comprises 136 units, including 2 one-bedroom units, 8 two-bedroom units, and 36 three-bedroom units. This mix of unit sizes accommodates various household compositions within the low-income population.
Zip code 35022 has experienced significant demographic changes over the past decade. The population increased from 23,713 in 2015 to 26,179 in 2022, indicating a growing demand for housing. Median income remained relatively stable, fluctuating between $75,484 and $78,222 during this period.
Racial demographics in the zip code have shifted notably. The Black population increased from 32% in 2015 to 48% in 2022, while the White population decreased from 57% to 46% during the same period. These changes in racial composition may influence the need for diverse and inclusive affordable housing options.
Zip code 35022 in Bessemer, Alabama, demonstrates a commitment to affordable housing through its LIHTC-funded projects. The current inventory of 136 low-income units provides crucial support for the area's low-income residents. The long-standing presence of affordable housing, dating back to at least 1996, underscores the community's ongoing efforts to address housing needs. As the area continues to experience population growth and demographic changes, continued attention to affordable housing initiatives may be necessary to meet evolving community needs.
