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Aliceville's LIHTC-Funded Affordable Housing: A Decade of Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Aliceville, Alabama, maintains a notable presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The city's LIHTC inventory comprises 51 total affordable units, all designated as low-income units. These units represent approximately 3.4% of the city's estimated 1,486 housing units.
Aliceville has received $24,304 in project tax credits from the LIHTC program. With two approximate projects, this translates to an average federal funding of $12,152 per project and $477 per unit. Aliceville holds about 0.01% of the total state LIHTC funding.
The city's affordable housing development spans from 1990 to 2006, with Westside Apts being the first project built and Aliceville Estates being the most recent. This 16-year period demonstrates a sustained commitment to affordable housing in the city, with the 2000s seeing the most development activity.
Aliceville's LIHTC inventory includes a mix of unit types: 15 one-bedroom units, 4 two-bedroom units, 26 three-bedroom units, and 6 four-bedroom units. This diverse range of unit sizes caters to various household compositions within the low-income population.
Over the past decade, Aliceville has experienced a significant population decline, from 5,061 residents in 2015 to 3,879 in 2022. Despite this decrease, the median income has shown a positive trend, rising from $30,497 in 2015 to $48,846 in 2022. This income growth might impact the demand for affordable housing.
Racial demographics have also shifted slightly. The Black population decreased from 72% in 2015 to 59% in 2022, while the White population increased from 26% to 39% during the same period. The Hispanic population remained stable at around 1%.
Aliceville's LIHTC funded affordable housing represents a small but significant portion of the city's housing inventory. The city has maintained a presence of affordable housing for over 16 years, with a mix of unit types to accommodate various household sizes. While the population has declined, rising median incomes and shifting racial demographics may influence future affordable housing needs. The city's share of state LIHTC funding, though small, contributes to addressing low-income housing requirements in Aliceville.
