The Cardinal Apts project consists of 12 units, with a mix of 4 one-bedroom and 8 two-bedroom apartments. This distribution suggests a focus on accommodating small families and individuals. The project does not have a specified target population, indicating it may serve a diverse range of low-income residents.

Over the past decade, the zip code has experienced some fluctuations in population, with the most recent data showing a population of 2,231 in 2022. The median income has seen an overall increase, rising from $36,150 in 2013 to $41,680 in 2022, with a notable spike to $57,500 in 2021. This trend suggests a gradual improvement in economic conditions for the area's residents.

Racial demographics have remained relatively stable, with the white population consistently comprising over 95% of the total throughout the past decade. The area has seen a small increase in diversity, with the percentage of residents identifying as two or more races growing from 1% in 2015 to 2% in recent years.

Despite these demographic changes, there have been no new LIHTC projects in the last decade. This could be due to various factors, including the small population size, the relatively stable economic conditions, or potentially other affordable housing initiatives not captured in the LIHTC data.

Zip code 35540 in Addison, Alabama, has a single LIHTC-funded affordable housing project that has been serving the community for over 20 years. While the 12 low-income units represent a small portion of the estimated housing inventory, they provide an important resource for affordable housing in the area. The demographic trends show a relatively stable population with a gradually increasing median income, which may influence the perceived need for additional affordable housing developments. As the community continues to evolve, ongoing assessment of housing needs will be crucial to ensure adequate affordable options for low-income residents.