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Affordable Housing Analysis in Zip Code 32128: Two Decades of LIHTC Presence in Port Orange, Florida
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Port Orange's zip code 32128, located in Florida, contains 268 total affordable units funded by the Low-Income Housing Tax Credit (LIHTC) program. All of these units are designated as low-income units. This LIHTC inventory comprises approximately 3.27% of the estimated 8,189 housing units in the zip code, based on the 2022 population and national average household size.
The LIHTC program has invested $855,511 in tax credits for affordable housing projects in zip code 32128. This equates to an average federal funding of about $3,192 per unit. Zip code 32128 accounts for 0.13% of Florida's total LIHTC funding allocation.
Ashton Point, completed in 2002, is the only LIHTC project in zip code 32128, representing over two decades of affordable housing presence in the area. The project consists of 268 units, including 124 two-bedroom, 104 three-bedroom, and 4 four-bedroom apartments, accommodating various family sizes.
Over the past decade, zip code 32128 has experienced significant population growth, increasing from 15,870 in 2013 to 21,372 in 2022. This 34.7% population increase suggests a growing demand for housing in the area. Median income has also risen, from $71,122 in 2013 to $83,805 in 2022, indicating overall economic improvement.
The racial composition has remained relatively stable, with a slight decrease in the white population from 89% in 2013 to 86% in 2022. There have been small increases in minority populations, particularly in the Hispanic community, which grew from 5% to 7% during this period.
Despite the population growth and income increases, no new LIHTC projects have been developed in zip code 32128 in the last decade. This may be due to the relatively high median income, which could reduce the perceived need for additional affordable housing units in the area.
Zip code 32128 in Port Orange has a single LIHTC-funded project, Ashton Point, providing 268 affordable housing units. While this project has been serving the community for over 20 years, it covers only a small percentage of the estimated housing inventory. The area has seen significant population growth and income increases over the past decade, but no new LIHTC developments have been added. This analysis provides insight into the affordable housing landscape of zip code 32128, highlighting the long-standing presence of LIHTC-funded housing amidst changing demographics.
