Loading Content...
Affordable Housing in Zip Code 35204: Three Decades of LIHTC Presence in Birmingham
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 35204 in Birmingham, Alabama has a population of 10,649 as of 2022, covering an area of 5.14 square miles. The Low-Income Housing Tax Credit (LIHTC) program has funded 50 affordable housing units in this area, all of which are designated as low-income units. Based on the estimated housing inventory of 4,080 units, the LIHTC-funded affordable housing accounts for approximately 1.23% of the zip code's housing stock.
The LIHTC projects in zip code 35204 have received $44,240 in tax credits, with an average of $884.80 per unit. This funding represents 2% of Alabama's total LIHTC allocations, indicating a modest investment in affordable housing for this area. The initial LIHTC project, College Hills Apartments, was completed in 1988, while the most recent, Rickwood Apartments, was finished in 1993. This five-year period marks the primary era of LIHTC development in the zip code. The 1990s saw the most affordable housing activity, with two out of the three projects completed during this decade.
Among the LIHTC-funded units, 24 are specifically designated as two-bedroom apartments, all within the Rickwood Apartments project. The remaining unit types are not specified in the available data.
Over the past decade, zip code 35204 has experienced some fluctuations in population, with a slight overall decrease from 11,463 in 2013 to 10,649 in 2022. Despite this, median income has shown a significant upward trend, rising from $22,034 in 2013 to $41,625 in 2022, nearly doubling over this period.
The racial composition of zip code 35204 has remained relatively stable, with a predominantly Black population. However, there has been a slight increase in diversity, with the percentage of White residents growing from 4% in 2013 to 10% in 2022, and a small but notable increase in Asian and multiracial residents.
Zip code 35204 in Birmingham, Alabama has a modest LIHTC-funded affordable housing inventory, covering just over 1% of its estimated housing stock. The area saw LIHTC development primarily in the late 1980s and early 1990s, with no new projects in recent years. Despite a slight population decrease, the area has experienced significant income growth over the past decade, potentially impacting the need for additional affordable housing. The racial composition remains predominantly Black, but with a gradual increase in diversity. These demographic shifts may influence future affordable housing needs and development in the area.
