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Affordable Housing in Zip Code 36530: LIHTC Investment in Elberta, 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 36530 in Elberta, Alabama, contains Low-Income Housing Tax Credit (LIHTC) funded affordable housing. This zip code covers 102.28 square miles with an estimated population of 7,343 as of 2022. The LIHTC program has funded 56 affordable housing units in this zip code, all designated as low-income units. These units represent approximately 1.99% of the zip code's estimated housing inventory of 2,813 units.
The LIHTC program has invested $887,856 in project tax credits in this zip code, averaging $15,854 per unit in federal funding. This investment accounts for 0.5% of the total LIHTC funding allocated to Alabama. The affordable housing in this zip code is represented by a single project, Hallson Manor, completed in 2011. This project marks the introduction of LIHTC-funded affordable housing in the area.
Hallson Manor offers a mix of unit types, consisting of 1 one-bedroom unit, 28 two-bedroom units, and 18 three-bedroom units. This distribution aims to accommodate small to medium-sized families within the affordable housing inventory.
The zip code has experienced demographic changes over the past decade. The population decreased slightly from 7,956 in 2013 to 7,343 in 2022. However, the median income increased from $39,940 in 2013 to $51,174 in 2022, indicating improved economic conditions for residents.
Racial demographics have remained relatively stable, with a predominantly white population. The Hispanic population grew from 1% in 2014 to 6% in 2022, and individuals identifying as two or more races increased from less than 1% to 4% during the same period. The introduction of LIHTC-funded housing in 2011 coincided with a period of population growth and economic development in the area.
The LIHTC program has made a targeted investment in zip code 36530, providing 56 affordable housing units through a single project. This investment represents a small percentage of the estimated housing stock but is an important step in addressing affordable housing needs. The project's diverse unit mix aims to accommodate different segments of the low-income population. Demographic trends over the past decade, including population fluctuations and increasing median income, provide context for the timing and scale of LIHTC investment in this zip code. Ongoing assessment of affordable housing needs will be crucial to ensure adequate support for low-income residents as the community continues to evolve.
