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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 35085, located in Jemison, Alabama, contains a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 72 units. These units, all designated as low-income, represent approximately 1.96% of the estimated 3,671 housing units in the zip code. The LIHTC program has invested $384,572 in project tax credits for affordable housing in this area, averaging $5,341 per unit. This investment accounts for 0.22% of the total LIHTC funding allocated to Alabama.
Affordable housing development in zip code 35085 began in 1993 with the completion of Parkside Apartments. The most recent project, Quail Ridge Apartments, was completed in 2003, indicating a decade of LIHTC-funded development activity. The 1990s and early 2000s were the most active periods for affordable housing project completion in this area. The current inventory consists of 12 one-bedroom units, 48 two-bedroom units, and 12 three-bedroom units, suggesting a focus on accommodating small to medium-sized families.
Population in zip code 35085 has remained relatively stable over the last decade, fluctuating between 8,700 and 9,600 residents. The median income has shown an overall upward trend, increasing from $45,403 in 2017 to $54,109 in 2022. This income growth may indicate changing economic conditions in the area. Racial demographics have remained fairly consistent, with the white population comprising the majority at around 78-80% of residents. The Hispanic population has increased slightly from 9% in 2017 to 14% in 2022, while the Black population has remained stable at around 5-7%.
The LIHTC program has contributed to providing affordable housing in zip code 35085, with 72 low-income units developed over a decade. These units, while representing a small percentage of the estimated housing inventory, address a portion of the affordable housing needs in the area. The stable population and increasing median income over the past decade suggest a potentially evolving economic landscape, which may influence future affordable housing needs and development in this zip code.