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Affordable Housing in Zip Code 35051: LIHTC Funded Projects in Columbiana, Alabama
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 35051, located in Columbiana, Alabama, has a population of 13,859 as of 2022. This area has received investment in affordable housing through the Low-Income Housing Tax Credit (LIHTC) program. The zip code contains 111 total units in LIHTC-funded projects, with 57 of these designated as low-income units. Based on the estimated housing inventory of 5,310 units, the LIHTC-funded affordable housing comprises approximately 2.1% of the zip code's housing stock.
The LIHTC projects in zip code 35051 have received $1,413,548 in tax credits, averaging about $12,735 per unit across all LIHTC-funded projects. This funding represents 0.79% of Alabama's total LIHTC allocation, indicating a modest investment in affordable housing for this area. Affordable housing has been present in this zip code for over two decades, with the first LIHTC project completed in 1995 and the most recent finished in 2016.
The LIHTC-funded housing stock in zip code 35051 consists primarily of one-bedroom (52 units) and two-bedroom (57 units) apartments, with a small number of three-bedroom units (2). This distribution suggests a focus on housing for smaller households or families.
Over the past decade, zip code 35051 has experienced fluctuations in population, with an overall increase from 12,388 in 2012 to 13,859 in 2022. The median income has also seen an upward trend, rising from $64,024 in 2013 to $69,150 in 2022. This economic growth may indicate a changing landscape for affordable housing needs.
Racial demographics in zip code 35051 have shifted slightly, with the white population decreasing from 81% in 2013 to 71% in 2022, while the Black population increased from 10% to 20% over the same period. The Hispanic population also saw a small increase from 2% to 5%. These changes in racial composition could influence future affordable housing needs and planning.
Zip code 35051 has a modest LIHTC-funded affordable housing inventory, covering about 2.1% of its estimated housing stock. The area has seen consistent, though infrequent, development of affordable housing projects over the past three decades. With changing demographics and rising median incomes, the community's affordable housing needs may continue to evolve. The LIHTC program has played a role in providing housing options for lower-income residents in this zip code, though it represents a small portion of the overall housing market.
