The inventory of LIHTC-funded units in Foley includes a mix of unit sizes, with 91 one-bedroom, 153 two-bedroom, and 48 three-bedroom units. This distribution suggests a focus on accommodating various family sizes within the affordable housing stock. One notable project, Savannah Park, completed in 2002, specifically targets individuals with mental illness, addressing a unique need within the community.

Over the past decade, Foley has experienced significant population growth, increasing from 23,333 in 2014 to 32,680 in 2022. This 40% growth rate suggests a rising demand for housing overall. Concurrently, the median income has risen from $41,183 in 2014 to $55,367 in 2022, a 34% increase.

The racial composition of Foley has remained relatively stable, with a slight increase in diversity. The white population decreased marginally from 79% to 77% between 2014 and 2022, while the Hispanic population grew from 5% to 8%. The black population decreased slightly from 10% to 7% during this period.

Despite the population growth and income increases, no new LIHTC projects have been recorded since 2008. This could indicate that other housing programs or market-rate developments may be addressing the city's housing needs, or that there might be a potential gap in affordable housing provision given the population growth.

Foley's LIHTC-funded affordable housing inventory, while significant, represents a small portion of the city's estimated housing stock. The city has leveraged federal funding to create a diverse range of unit sizes, including specialized housing for individuals with mental illness. While Foley has experienced substantial population and income growth over the past decade, the LIHTC-funded housing stock has not expanded since 2008. This analysis highlights the complex interplay between population growth, demographic changes, and affordable housing provision in a rapidly growing city.