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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 36832 in Auburn, Alabama, contains a specific Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. This zip code has 176 total units in LIHTC funded projects, with 140 designated as low-income units. The area covers 67.04 square miles and had a population of 28,072 in 2022. Based on the national average household size, the estimated housing inventory is approximately 10,756 units. The LIHTC funded affordable housing comprises about 1.64% of the estimated housing inventory in this zip code.
The LIHTC program has invested $1,231,908 in tax credits for affordable housing projects in zip code 36832. This equates to an average federal funding of approximately $7,000 per unit. This zip code accounts for 0.69% of the total state LIHTC funding, indicating a significant allocation for this area.
Affordable housing has been present in zip code 36832 for nearly three decades. The first LIHTC project, Nancy Spears Apts, was completed in 1994, while the most recent, Shepherd's Cove, was finished in 2013. The 2000s experienced the most activity in affordable housing development, with two projects completed during this decade.
The LIHTC funded projects in zip code 36832 offer a mix of unit types, with a focus on two-bedroom and three-bedroom units. There are 72 two-bedroom units and 68 three-bedroom units across the projects.
Over the past decade, the population in zip code 36832 has grown from 24,067 in 2013 to 28,072 in 2022, representing a 16.6% increase. During this same period, the median income has risen from $26,063 in 2013 to $47,083 in 2022, an 80.6% increase.
Racial demographics in zip code 36832 have remained relatively stable, with a slight increase in diversity. The white population decreased from 64% in 2013 to 63% in 2022, while the Asian population increased from 3% to 6%. The Black population decreased from 25% to 22%, and the Hispanic population increased from 3% to 5%.
The most recent LIHTC project in zip code 36832 was completed in 2013, coinciding with the beginning of the observed demographic trends. The subsequent years of population growth and significant income increase may have reduced the immediate need for additional LIHTC projects in the area.
Zip code 36832 in Auburn, Alabama, has a modest LIHTC funded affordable housing inventory, covering about 1.64% of the estimated housing stock. The area has seen consistent investment in affordable housing over nearly three decades, with a focus on family-sized units. While the population has grown and median income has increased significantly over the past decade, the racial composition has remained relatively stable with a slight increase in diversity. These demographic shifts may have influenced the lack of new LIHTC projects since 2013, but continued monitoring of housing needs in this growing area will be crucial for future planning.