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Winfield, Alabama: LIHTC-Funded Affordable Housing in a Declining Population
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Winfield, Alabama, a city with 5,058 residents as of 2022, has implemented the Low-Income Housing Tax Credit (LIHTC) program to address affordable housing needs. The program has funded 87 affordable housing units, of which 51 are designated as low-income units. This comprises approximately 4.5% of the city's estimated housing inventory of 1,938 units.
The LIHTC program has allocated $334,288 in project tax credits to Winfield. With two projects, this amounts to an average of $167,144 in federal funding per project and $3,843 per unit. Winfield's share of the total state LIHTC funding is 0.19%.
Winfield's affordable housing development through LIHTC occurred between 1992 and 2000. The first project was Crestwood Manor Apartments, and the last was Bankhead Court Apartments. This eight-year period represents the initial phase of LIHTC-funded affordable housing in the city, with the 1990s being the most active period for project completion.
The affordable housing inventory in Winfield consists of 45 one-bedroom units, 30 two-bedroom units, and 12 three-bedroom units. This distribution indicates a focus on smaller household sizes, with options available for various family configurations.
Winfield's population has decreased from 5,824 in 2013 to 5,058 in 2022. Despite this decline, the median income has shown an overall increase, rising from $32,990 in 2013 to $41,688 in 2022, with some fluctuations in between. The racial composition of Winfield has remained predominantly white (94% in 2022), with slight increases in the Black, Hispanic, and Asian populations over the past decade.
The absence of new LIHTC projects in the last decade may be attributed to the declining population and increasing median income, potentially reducing the perceived need for additional low-income housing units.
Winfield's LIHTC-funded affordable housing inventory provides 87 units for low-income residents. The city's share of state LIHTC funding is small but significant for its size. The housing stock caters to different household sizes. Despite no recent LIHTC projects, the existing inventory continues to serve the city's housing needs. The demographic trends of a declining population and rising median income may influence future affordable housing development in Winfield.
