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Oxford, Alabama: LIHTC Affordable Housing Remains Static Amid Population Growth
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Oxford, Alabama, with a population of 25,840 as of 2022, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 144 units. These units constitute approximately 1.45% of the city's estimated 9,900 housing units. The city has received $214,481 in project tax credits from the LIHTC program for affordable housing. This funding represents 0.12% of the total state LIHTC funding in Alabama, with an average of $214,481 per project and $1,489 per unit.
The sole LIHTC-funded project in Oxford is Sterling Pointe, completed in 2003. This project has provided affordable housing in the city for nearly two decades. Sterling Pointe consists of 144 units, comprising 24 one-bedroom units, 96 two-bedroom units, and 24 three-bedroom units, indicating a focus on accommodating small to medium-sized families.
Oxford has experienced modest population growth over the past decade, increasing from 24,264 in 2013 to 25,840 in 2022. The median income has risen from $54,205 in 2013 to $63,025 in 2022, potentially indicating a reduced need for additional affordable housing projects in recent years.
The racial demographics of Oxford have remained relatively stable. The white population has slightly decreased from 76% in 2013 to 73% in 2022, while the Black population has increased marginally from 14% to 16% during the same period. The Hispanic population has grown from 6% to 7%, indicating a slight increase in diversity.
Oxford's LIHTC-funded affordable housing inventory, consisting of one project, Sterling Pointe, provides 144 low-income units. This covers a small percentage of the city's estimated housing stock. The city has experienced moderate population growth and an increase in median income over the past decade, which may influence the demand for affordable housing. The racial composition has remained relatively stable, with slight increases in diversity. These demographic trends provide context for understanding the affordable housing landscape in Oxford.
