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Affordable Housing in Zip Code 36105: A Three-Decade Analysis of LIHTC Investments
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 36105 in Montgomery, Alabama, contains 98 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units, all designated as low-income units. These units represent approximately 2.44% of the estimated 4,010 total housing units in this zip code. The LIHTC projects in zip code 36105 have received $244,253 in project tax credits, averaging about $2,492 per unit. This funding comprises 0.14% of Alabama's total LIHTC allocation.
Affordable housing has been present in this zip code for over three decades. The first LIHTC project, Cloverland Apartments, was completed in 1987, and the most recent addition, Rosa Parks Place, was finished in 1999. The 1980s saw the highest activity in affordable housing development, with three out of four projects completed during this decade. The LIHTC-funded housing inventory in this zip code includes 56 efficiency units.
Over the past decade, zip code 36105 has experienced a significant population decline, from 12,498 in 2014 to 10,466 in 2022, representing a 16.3% decrease. Concurrently, median income has fluctuated, with the most recent data showing $36,511 in 2022, down from $39,348 in 2014. The racial composition of the area has remained relatively stable, with a predominant African American population. In 2022, 87% of residents identified as Black, 10% as White, and small percentages of other racial groups.
Despite the lack of new LIHTC projects in the last decade, the declining population and fluctuating median income indicate an ongoing need for affordable housing options. The existing LIHTC units likely continue to play a crucial role in providing stable housing for low-income residents in this area. The stable racial demographics suggest a consistent need for affordable housing.
Zip code 36105 in Montgomery, Alabama, has a modest but established LIHTC-funded affordable housing inventory, representing 2.44% of the estimated total housing stock. The area has seen no new LIHTC developments since 1999, but the existing 98 units, including 56 efficiency apartments, continue to serve the community. The LIHTC program's investment of $244,253 in this zip code, while small relative to the state's total allocation, remains a significant contributor to the area's affordable housing landscape.
