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Atmore's LIHTC Housing: Two Decades of Affordable Units Amidst 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
Atmore, Alabama, maintains a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 56 total units, all of which are designated as low-income. Based on the 2022 population of 15,114 and an estimated 5,791 housing units, LIHTC-funded affordable housing comprises approximately 0.97% of the city's estimated housing inventory.
Atmore has received $256,326 in project tax credits for affordable housing through the LIHTC program. With two approximate projects, this translates to an average federal funding of $128,163 per project. The average federal funding per unit is $4,577. Atmore holds 0.14% of Alabama's total LIHTC funding, indicating a small but significant contribution to the state's affordable housing efforts.
The city's LIHTC-funded affordable housing development occurred between 1996 and 1999. The first project, Pines Apts I, was completed in 1996, while the last project, The Pines Apts II, was finished in 1999. The 1990s saw the most affordable housing projects completed in Atmore.
Atmore's LIHTC-funded housing inventory consists of 24 one-bedroom units, 8 two-bedroom units, and 24 three-bedroom units. This distribution accommodates various household sizes, from individuals to small families.
Atmore's population has shown a declining trend over the past decade, decreasing from 16,933 in 2014 to 15,114 in 2022. The median income has fluctuated, rising from $30,293 in 2014 to $38,819 in 2022, with variations in between. The racial composition has shifted slightly, with the Black population increasing from 39% in 2014 to 48% in 2022, while the White population decreased from 54% to 45% during the same period.
The absence of new LIHTC projects in the last decade may be related to the declining population, potentially indicating a reduced demand for new affordable housing units. However, the fluctuating median income suggests that there may still be a need for affordable housing options in the community.
Atmore's LIHTC-funded affordable housing inventory, while modest in size, provides 56 low-income units to the community. The program's implementation in the late 1990s established a foundation for affordable housing in the city. Despite no new LIHTC projects in recent years, demographic shifts, including a declining population and fluctuating median income, suggest that ongoing assessment of affordable housing needs may be beneficial for the community.
