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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Hamilton, Alabama, a city with a population of 10,116 as of 2022, has 57 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. These units comprise 1.47% of the city's estimated 3,876 housing units. The LIHTC program has provided $912,994 in project tax credits to Hamilton, averaging $304,331 per project and $16,017 per unit. Hamilton's share of Alabama's total LIHTC funding is 0.51%.
The development of LIHTC-funded housing in Hamilton spans two decades, with the first project completed in 1995 and the most recent in 2015. The 2000s were the most active period for LIHTC projects, with two out of three projects completed during this time. The affordable housing inventory primarily consists of two-bedroom units (37), followed by one-bedroom units (18), and a small number of three-bedroom units (2).
Hamilton's population has remained relatively stable over the past decade, decreasing slightly from 10,456 in 2017 to 10,116 in 2022. The median income has increased significantly from $35,767 in 2017 to $49,727 in 2022, potentially indicating a decreasing need for affordable housing. Racial demographics have remained consistent, with the white population comprising the majority (88% in 2022), while the black population has fluctuated between 4% and 7%. The Hispanic population has decreased from 4% in 2017 to 1% in 2022.
Hamilton's LIHTC-funded affordable housing inventory provides 57 low-income units to the community. The city has experienced steady development of affordable housing projects over two decades, with the most recent addition in 2015. The rising median income and stable population suggest changing economic conditions that may influence future affordable housing needs. The consistent racial demographics indicate a relatively unchanging community composition. These factors combined provide an overview of Hamilton's affordable housing landscape and its potential future directions.