Loading Content...
Affordable Housing Analysis in Zip Code 32825: Two Decades of LIHTC Investment in Alafaya, Florida
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 32825, located in Alafaya, Florida, contains a significant inventory of LIHTC-funded affordable housing. This area has 1,767 units in LIHTC-funded projects, with 1,526 designated as low-income units. These units represent approximately 7.5% of the estimated 23,500 housing units in the zip code, demonstrating a substantial commitment to affordable housing.
The LIHTC projects in zip code 32825 have received $2,699,912 in tax credits, averaging about $1,528 per unit in federal funding. This amount represents 0.4% of the total state LIHTC funding, indicating a notable concentration of affordable housing investment in this area.
Affordable housing has been a consistent feature of zip code 32825 for 24 years, with projects spanning from 1995 to 2019. The earliest project, Valencia Park, was completed in 1995, while the most recent, Vista Pines, was finished in 2019. This period showcases a sustained effort to provide affordable housing options.
The 1990s saw the most affordable housing development activity in zip code 32825, with four projects completed during this decade: Valencia Park (1995), Academy At Waterford Lakes (1998), Wentworth I (1999), and Wentworth Apts II (2000). The early 2000s also saw continued development with Retreat At Valencia (2001) and Valencia Trace (2003).
The LIHTC-funded projects in zip code 32825 offer a diverse range of unit types. There are 260 one-bedroom units, 619 two-bedroom units, 735 three-bedroom units, and 81 four-bedroom units. This distribution suggests a focus on accommodating families of various sizes, with emphasis on two- and three-bedroom units.
The population in zip code 32825 has shown overall growth, increasing from 56,756 in 2013 to 61,334 in 2022, an 8% increase. This population growth may have contributed to the need for additional affordable housing, as evidenced by the completion of Vista Pines in 2019.
Median income in zip code 32825 has risen significantly, from $55,615 in 2013 to $66,859 in 2022, representing a 20% increase. Despite this growth in median income, the continued development of affordable housing suggests an ongoing need for low-income housing options.
The racial demographics of zip code 32825 have remained relatively stable over the past decade, with a slight increase in diversity. The Hispanic population has grown from 46% in 2013 to 46% in 2022, while the White population has decreased from 38% to 34%. This demographic shift may indicate a growing need for culturally diverse affordable housing options.
Zip code 32825 in Alafaya, Florida, demonstrates a substantial commitment to affordable housing through its LIHTC-funded projects. With 1,767 total units, including 1,526 low-income units, these projects cover approximately 7.5% of the estimated housing inventory. The area has seen consistent development of affordable housing over a 24-year period, with a focus on family-sized units. Despite rising median incomes and population growth, the continued investment in affordable housing suggests an ongoing need for such options in this diverse and growing community.
