Over the past decade, the population in zip code 33566 has shown steady growth, increasing from 21,716 in 2014 to 24,218 in 2022. The median income has also risen, from $61,461 in 2014 to $72,461 in 2022, indicating an overall improvement in economic conditions.

Racial demographics have shifted during this period. The white population decreased from 63% in 2014 to 54% in 2022, while the Hispanic population increased from 28% to 34%. The Black population also saw a slight increase from 6% to 8%. These changes suggest a growing diversity in the area.

Despite these demographic shifts and the absence of new LIHTC projects in the last decade, the existing affordable housing continues to play a crucial role in the community. The increasing median income might indicate a reduced need for additional affordable housing, but other factors and housing programs may also be influencing the affordable housing landscape in this zip code.

Zip code 33566 in Plant City, Florida, has a significant LIHTC-funded affordable housing presence, with 434 total units, representing about 4.7% of the estimated housing inventory. The two existing projects, completed in 1997 and 2001, have provided affordable housing options for over two decades. While no new LIHTC projects have been developed in recent years, the area has experienced population growth, increasing median income, and growing racial diversity. These factors, along with the existing affordable housing stock, contribute to the complex housing landscape of this zip code.