Loading Content...
Affordable Housing Analysis in Naples, Florida Zip Code 34102: LIHTC Funded Projects and Demographic Trends
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 34102 in Naples, Florida, a coastal area known for its beaches and upscale living, has implemented the Low-Income Housing Tax Credit (LIHTC) program to fund affordable housing projects. The LIHTC-funded projects in this zip code contain 142 total units, with 79 designated as low-income units. These projects account for approximately 3.4% of the estimated 4,134 housing units in the zip code.
The LIHTC projects in zip code 34102 have received $212,208 in tax credits, averaging $1,494 per unit across all LIHTC-funded projects. This funding represents 0.03% of Florida's total LIHTC allocation, indicating a relatively small portion of the state's affordable housing investment. Affordable housing has been present in this zip code since 1995, with the completion of the Jasmine Cay project. The most recent project, George Washington Carver, was completed in 2006.
The LIHTC-funded projects in zip code 34102 offer a mix of unit types, with 100 two-bedroom units, 30 three-bedroom units, and 12 one-bedroom units. This distribution suggests a focus on accommodating small to medium-sized families.
Over the past decade, the population in zip code 34102 has remained relatively stable, fluctuating between 10,625 and 12,019 residents. The median income has shown an overall upward trend, increasing from $96,599 in 2013 to $106,206 in 2022, with some fluctuations in between. This rising income trend may indicate a decreasing need for affordable housing in recent years.
The racial composition of zip code 34102 has remained predominantly white, with a slight decrease from 87% in 2013 to 81% in 2022. There has been a small increase in diversity, with slight growth in the Hispanic, Black, and Asian populations. The Black population, in particular, saw an increase from 7% in 2013 to 8% in 2022.
Zip code 34102 in Naples, Florida has a modest LIHTC-funded affordable housing inventory, covering about 3.4% of its estimated housing units. The area saw affordable housing development primarily in the 1990s and early 2000s, with no new LIHTC projects in the last decade. The rising median income and stable population suggest that the need for additional affordable housing may have decreased in recent years. However, the slight increase in racial diversity could potentially indicate a changing demographic landscape that might benefit from continued affordable housing options.
