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Affordable Housing in Zip Code 36066: A Significant Presence of LIHTC-Funded Projects in Prattville, Alabama
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 36066 in Prattville, Alabama, has a substantial presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area contains 500 total units in LIHTC funded projects, with 428 of these designated as low-income units. Based on the 2022 population of 21,651 and an estimated 8,295 housing units, the LIHTC funded affordable housing comprises approximately 6% of the zip code's estimated housing inventory.
The LIHTC projects in zip code 36066 have received $2,541,519 in project tax credits, averaging about $5,083 per unit. This represents 1.43% of the total LIHTC funding allocated to Alabama, indicating a notable concentration of affordable housing investment in this area.
Affordable housing has been a consistent feature of zip code 36066, with projects spanning from 1993 to 2009. The earliest project, Victoria Place Apts I, was completed in 1993, while the most recent, Brentwood Landing Apts II, was finished in 2009. The 1990s saw the most affordable housing development, with four projects completed during this decade.
The LIHTC funded housing stock in zip code 36066 offers a diverse range of unit types. It includes 18 efficiencies, 138 one-bedroom units, 252 two-bedroom units, and 74 three-bedroom units, catering to various household sizes and needs.
Over the past decade, zip code 36066 has experienced population growth, increasing from 18,792 in 2017 to 21,651 in 2022. Median income has fluctuated but generally remained stable, moving from $69,891 in 2017 to $74,045 in 2022. The racial composition has remained relatively consistent, with a slight increase in diversity. The white population decreased from 77% to 75%, while the Black population increased from 14% to 16%, and the Asian population grew from 2% to 3%.
Despite no new LIHTC projects being built in the last decade, the demographic trends suggest a growing population that might benefit from additional affordable housing options in the future.
Zip code 36066 has a notable presence of LIHTC funded affordable housing, covering about 6% of its estimated housing inventory. The area has received a significant portion of Alabama's LIHTC funding, demonstrating a commitment to affordable housing that spans nearly two decades. While no new LIHTC projects have been developed in recent years, the growing and diversifying population suggests a potential need for continued investment in affordable housing options.
