Loading Content...
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 35054 in Pell City, Alabama, contains a specific Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. This area encompasses 60 total units in LIHTC funded projects, with 6 units designated as low-income. Based on the 2022 population of 4,048 and an estimated 1,551 housing units in the zip code, LIHTC funded affordable housing represents approximately 3.87% of the estimated housing inventory.
The LIHTC program has invested $736,756 in tax credits for affordable housing in zip code 35054. This investment equates to an average federal funding of $12,279 per unit. Notably, this zip code accounts for 0.41% of Alabama's total LIHTC funding, indicating a small but significant contribution to the state's affordable housing efforts.
Clarion Cove, the sole LIHTC project in zip code 35054, was completed in 2015. This development marks the inception of LIHTC-funded affordable housing in the area. Clarion Cove consists of 46 two-bedroom units and 14 three-bedroom units, providing a range of housing sizes to accommodate various household needs.
Zip code 35054 has experienced population fluctuations over the past decade. The population increased from 3,714 in 2020 to 4,403 in 2021, followed by a decrease to 4,048 in 2022. The median income has shown volatility, reaching $73,993 in 2021 but declining to $47,628 in 2022.
Racial demographics in zip code 35054 have remained relatively stable, with the white population consistently representing the majority. The percentage of white residents increased from 78% in 2017 to 90% in 2022. The Black population decreased from 13% to 8% during the same period, while other racial groups maintained minimal representation.
The completion of Clarion Cove in 2015 coincides with a period of relative economic stability in zip code 35054, as evidenced by the median income ranging from $54,341 to $58,283 between 2015 and 2019. This suggests that the LIHTC project was implemented during a time of moderate economic conditions in the zip code.
Zip code 35054 has a modest LIHTC-funded affordable housing presence, with one project providing 60 units, including 6 low-income units. This covers nearly 4% of the estimated housing inventory. The area has experienced recent population growth and income fluctuations, with a predominantly white demographic. The LIHTC investment represents a small but important portion of Alabama's affordable housing efforts, providing necessary housing options in this community.