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Affordable Housing and Demographic Shifts in Orlando's 33rd St. Industrial Neighborhood
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The 33rd St. Industrial neighborhood in Orlando, Florida, features a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood contains 94 affordable units, all designated as low-income. Based on the 2022 population of 2,424 and using the national average household size, the estimated housing inventory is approximately 929 units. LIHTC funded affordable housing comprises about 10.1% of the neighborhood's estimated housing inventory, contributing substantially to the area's affordable housing needs.
The LIHTC program has invested $348,450 in tax credits for affordable housing in this neighborhood, averaging $3,707 per unit in federal funding. The neighborhood's LIHTC funded affordable housing is concentrated in a single project called Crossroads, completed in 2011. This project has provided affordable housing options for over a decade.
Crossroads offers 52 two-bedroom and 42 three-bedroom units, suggesting a focus on accommodating families or households requiring more space. The absence of efficiencies and one-bedroom units indicates that the project may not cater as much to single individuals or couples without children.
The neighborhood has experienced significant demographic shifts over the past decade. The population grew from 1,918 in 2017 to 2,424 in 2022, a 26.4% increase. This growth may have increased the demand for affordable housing options.
Median income in the neighborhood rose from $34,239 in 2017 to $51,557 in 2022, a 50.6% increase. Despite this growth, the presence of LIHTC funded housing suggests a continued need for affordable options, particularly for those who may not have benefited as much from the overall income increase.
The racial composition of the neighborhood has shifted notably. The Hispanic population grew from 29% in 2017 to 58% in 2022, becoming the majority. Concurrently, the Black population decreased from 41% to 33%, and the White population from 22% to 8%. These demographic changes may influence the ongoing need for affordable housing and potentially shape future housing developments.
The 33rd St. Industrial neighborhood in Orlando has a significant LIHTC funded affordable housing presence, with 94 units comprising about 10.1% of the estimated housing inventory. The single project, Crossroads, completed in 2011, offers a mix of two and three-bedroom units, catering primarily to families. Over the past decade, the neighborhood has experienced substantial population growth, increased median income, and significant shifts in racial composition, with the Hispanic population becoming the majority. These demographic changes, coupled with the continued presence of LIHTC funded housing, underscore the ongoing importance of affordable housing options in this evolving neighborhood.
