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Thomasville, Alabama: Affordable Housing Trends Amidst Population Decline
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Thomasville, Alabama, a small city with a population of 5,093 as of 2022, has 273 units in Low-Income Housing Tax Credit (LIHTC) funded projects. Of these, 174 are designated as low-income units. Based on the estimated housing inventory of 1,951 units, LIHTC funded affordable housing comprises approximately 14% of the city's housing stock, approaching the target percentage for a well-balanced city.
Thomasville has received $544,652 in project tax credits through the LIHTC program. With approximately 5 projects, this equates to an average of $108,930 in federal funding per project. When divided by the total number of units, it amounts to about $1,995 per unit in federal funding. Thomasville holds 0.31% of Alabama's total LIHTC funding, indicating a modest share of the state's affordable housing resources.
The city has had LIHTC-funded affordable housing since 1990, with the most recent project completed in 2007, spanning a 17-year period of affordable housing development. The 1990s saw the most affordable housing projects completed, with three projects: Brookshire Manor Apartments (1990), Ridge Chase Apartments (1994), and Rock Pointe (1999). The 2000s followed with two more projects: Country Club Cottages (2006) and Timberline - Pinehurst Apartments (2007).
The LIHTC-funded housing in Thomasville consists primarily of one-bedroom (97 units) and two-bedroom (130 units) apartments, with a smaller number of three-bedroom units (28). This distribution suggests a focus on housing for smaller families and individuals.
Over the past decade, Thomasville has experienced a notable population decline, from 6,439 in 2018 to 5,093 in 2022. Despite this decrease, the median income has shown some fluctuation, rising from $35,310 in 2018 to $43,679 in 2022. This increase in median income, coupled with population decline, might partially explain the lack of new LIHTC projects in recent years.
The racial composition of Thomasville has remained relatively stable, with a slight increase in the Black population (from 36% in 2018 to 46% in 2022) and a corresponding decrease in the White population (from 62% in 2018 to 52% in 2022). This shift in demographics could potentially influence future affordable housing needs and planning.
Thomasville's LIHTC-funded affordable housing inventory covers a significant portion of the city's estimated housing stock. The city saw most of its affordable housing development in the 1990s and early 2000s, with no new LIHTC projects in the last decade. The existing inventory primarily caters to smaller households. While the population has declined in recent years, the slight increase in median income might affect the demand for affordable housing. The changing racial demographics could also play a role in shaping future affordable housing needs in Thomasville.
