Affordable Housing in Zip Code 36613: Analysis of LIHTC-Funded Units in Prichard, Alabama
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
DATA SOURCE
Zip code 36613 in Prichard, Alabama, contains a single Low-Income Housing Tax Credit (LIHTC) funded affordable housing project. This project, known as Chancery Square, was completed in 1999 and provides 56 low-income units. These units represent approximately 1.04% of the estimated 5,360 housing units in the zip code. The LIHTC program has invested $288,970 in tax credits for this project, averaging $5,160 per unit. This investment accounts for 0.16% of Alabama's total LIHTC funding allocation.
Chancery Square offers a variety of unit sizes to accommodate different household needs. The project consists of 16 one-bedroom, 24 two-bedroom, and 16 three-bedroom apartments. This distribution allows for housing options for various family sizes within the affordable housing framework.
Demographic trends in zip code 36613 have shown changes over the past decade. The population increased from 13,405 in 2013 to 13,989 in 2022, indicating modest growth. Median income also rose from $41,097 in 2013 to $48,734 in 2022, suggesting a gradual improvement in economic conditions. Racial demographics shifted significantly, with the Black population percentage increasing from 34% to 49%, while the White population decreased from 60% to 50% between 2013 and 2022.
Despite these demographic changes and the passage of time, no new LIHTC projects have been developed in zip code 36613 since Chancery Square's completion in 1999. This lack of new development may be attributed to various factors, including changes in local housing policies, the availability of alternative affordable housing programs, or shifts in funding priorities.
The presence of a single LIHTC-funded project in zip code 36613 raises questions about the adequacy of affordable housing in the area. With only 1.04% of the housing inventory designated as LIHTC-funded affordable units, there may be unmet needs for low-income housing in the community. The demographic shifts observed over the past decade, particularly the increase in the Black population and the gradual rise in median income, may influence future affordable housing needs and development strategies in the area.
In conclusion, zip code 36613 in Prichard, Alabama, presents a case study of limited LIHTC-funded affordable housing development. The single project, Chancery Square, has provided 56 low-income units for over two decades. However, the changing demographics and economic conditions in the area suggest that a reassessment of affordable housing needs may be warranted. Future planning and policy decisions regarding affordable housing in this zip code should consider these demographic trends and the potential demand for additional low-income housing options.
