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Columbia, Alabama: LIHTC's Impact on Affordable Housing in a Small Town
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Columbia, Alabama, a small town, has a modest Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory that contributes to addressing the community's housing needs. The city has 14 total affordable units, all of which are designated as low-income units.
Based on the estimated housing inventory of approximately 469 units, the LIHTC-funded affordable housing covers about 3% of the city's housing stock. This indicates that while LIHTC projects contribute to the affordable housing supply, they may not fully meet the potential demand for affordable housing in Columbia.
The LIHTC program has provided $14,975 in tax credits for affordable housing in Columbia. With one project, this translates to an average federal funding of $14,975 per project. The average federal funding per unit is $1,070. Columbia's LIHTC funding represents about 1% of Alabama's total state funding for the program.
The Columbia-Hall Apartments, completed in 1992, is the sole LIHTC project in the city. This project has provided affordable housing options for Columbia residents for over three decades. All 14 units in this development are two-bedroom apartments, offering suitable accommodations for small families or individuals needing extra space.
Columbia's population has gradually declined from 1,434 in 2013 to 1,223 in 2022. Despite this population decrease, the median income has shown an upward trend, rising from $28,827 in 2013 to $43,184 in 2022. This increase in median income might indicate a reduced need for additional affordable housing units in recent years.
Regarding racial demographics, Columbia has maintained a predominantly white population, with the percentage ranging from 76% to 87% over the past decade. The Black population has fluctuated between 10% and 20% during this period, while other racial groups represent smaller percentages of the population.
In summary, Columbia's LIHTC-funded affordable housing, while modest in scale, has been a consistent part of the city's housing landscape for over 30 years. The single project provides 14 two-bedroom units, contributing to the city's affordable housing stock. Demographic trends show a declining population and increasing median income, yet the steady presence of LIHTC housing suggests ongoing support for low-income residents in Columbia.
