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Affordable Housing Analysis in Miami Beach Zip Code 33139: LIHTC Contributions and Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
The zip code 33139 in Miami Beach, known for its beach culture and Art Deco architecture, contains 132 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. All of these units are designated as low-income. The LIHTC inventory comprises approximately 1% of the estimated 13,098 housing units in the zip code, based on the 2022 population of 34,186 and the national average household size.
The LIHTC-funded affordable housing development in this zip code spans multiple decades. The earliest recorded project, Swezy Apts and London Arms, was completed in 1992. The most recent project with a known completion date is Madison, finished in 1997. This indicates at least five years of affordable housing development in the area.
The 1990s were particularly active for LIHTC projects in zip code 33139, with four out of five known projects completed during this decade. Notable projects include Riviera Plaza (1993) and Madison (1997). The affordable housing inventory in this zip code consists of a mix of unit types, including 4 efficiencies, 7 one-bedroom units, 23 two-bedroom units, and 3 three-bedroom units.
Over the past decade, zip code 33139 has experienced demographic shifts. The population decreased from 37,028 in 2017 to 34,186 in 2022, a decline of 7.7%. The median income remained relatively stable, moving from $71,019 in 2017 to $69,670 in 2022, a slight decrease of 1.9%.
Racial demographics in zip code 33139 have shifted slightly. The Hispanic population remains the largest group, increasing from 51% in 2017 to 51% in 2022. The white population increased slightly from 41% to 41% during the same period. The Black population increased from 2% to 4%, while the Asian population remained steady at 2%.
Zip code 33139 in Miami Beach has a modest LIHTC-funded affordable housing inventory, with 132 units across at least five projects. This represents a small percentage of the estimated housing stock but provides crucial low-income housing options in an area known for its high cost of living. The majority of these projects were developed in the 1990s, offering a range of unit sizes to accommodate diverse household needs. Despite recent population decreases, the area's demographics suggest a continued need for affordable housing options, given the stable median income and diverse racial composition.
