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Affordable Housing in Zip Code 35802: Analysis of Chadwick Place LIHTC Project
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 35802 in Huntsville, Alabama, has a population of 22,465 as of 2022 and covers an area of 17.62 square miles. The Low-Income Housing Tax Credit (LIHTC) program has funded one affordable housing project in this zip code, providing a total of 108 units, of which 18 are designated as low-income units. Based on the estimated housing inventory of 8,607 units, the LIHTC-funded affordable housing covers approximately 1.25% of the zip code's housing stock.
The LIHTC program has invested $1,078,389 in tax credits for affordable housing in this zip code. This translates to an average federal funding of $9,985 per unit. This investment represents 0.61% of Alabama's total LIHTC funding allocation.
The sole LIHTC-funded project in this zip code is Chadwick Place, completed in 1991. This project has been providing affordable housing options in the area for over three decades. The unit breakdown for Chadwick Place includes 48 one-bedroom units, 8 two-bedroom units, and 52 three-bedroom units, offering a range of housing options for residents with varying needs.
Over the past decade, the population in zip code 35802 has shown steady growth, increasing from 20,323 in 2013 to 22,465 in 2022. The median income has fluctuated but generally remained high, ranging from $73,199 in 2015 to $81,666 in 2021, before decreasing to $78,021 in 2022.
Racial demographics have shown shifts. The white population has decreased from 84% in 2013 to 76% in 2022, while the Black population has increased from 8% to 14% during the same period. The Asian population has remained relatively stable at around 2-3%, and the Hispanic population has grown slightly from 2% to 4%. Despite these demographic changes, no new LIHTC projects have been built in the last decade. This could be due to the relatively high median income in the area, which may indicate less demand for additional low-income housing.
Zip code 35802 in Huntsville, Alabama, has one LIHTC-funded affordable housing project, Chadwick Place, which has been serving the community since 1991. This project provides 108 units, with 18 specifically designated as low-income units. While this represents a small portion of the estimated housing inventory, it has been a consistent presence in the area for over 30 years. The zip code has experienced population growth and demographic shifts over the past decade, but the high median income may explain the lack of additional LIHTC projects in recent years. The existing project continues to provide a mix of unit types to serve diverse housing needs within the community.
