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Auburn's Affordable Housing: LIHTC Program's Impact on a Growing University City
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Auburn, Alabama, home to Auburn University, has a notable Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city's LIHTC program has contributed 424 total units, with 379 designated as low-income units. Based on the estimated housing inventory of 30,655 units, LIHTC-funded affordable housing comprises approximately 1.38% of the city's housing stock.
Auburn has received $3,190,218 in project tax credits for affordable housing through the LIHTC program. With approximately 8 projects, this translates to an average of $398,777 in federal funding per project. The average federal funding per unit is $7,524. Auburn accounts for 1.79% of Alabama's total LIHTC funding, indicating a significant contribution to the state's affordable housing efforts.
The city's involvement with LIHTC-funded affordable housing began in 1988 with the Hudson Arms Apts project and continues through 2016 with the Grace Pointe project, spanning nearly three decades. The 2010s saw the most activity in affordable housing development, with projects like Grace Ridge (2011), Shepherd's Cove (2013), and Grace Pointe (2016) being completed.
Of the available unit breakdowns, there are 136 two-bedroom units and 100 three-bedroom units in LIHTC-funded projects, suggesting a focus on accommodating families. One notable project is Timber Trail, completed in 2002, which specifically targets individuals with mental illness, addressing a unique need within the community.
Over the last decade, Auburn has experienced significant population growth, increasing from 65,737 in 2018 to 80,009 in 2022, a 21.7% growth rate. This may indicate an increased demand for housing, including affordable options. The median income has also risen from $46,436 in 2018 to $54,839 in 2022, an 18.1% increase, which could impact affordable housing needs.
Racial demographics have remained relatively stable, with a slight increase in the Asian population (from 7% to 8%) and a small decrease in the White population (from 67% to 66%) between 2018 and 2022. The Black population has remained steady at around 19-20%.
Auburn's LIHTC-funded affordable housing inventory, while modest in relation to the city's total housing stock, represents a consistent effort over nearly three decades to provide low-income housing options. The city has leveraged federal funding to create a diverse range of housing units, including some targeted at specific populations. As Auburn continues to grow in population and median income, ongoing attention to affordable housing needs will be crucial to maintain a balanced community.
