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Affordable Housing Development in Holiday, Florida: A Decades-Long Evolution
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Holiday, Florida, exhibits a distinct affordable housing landscape influenced by the Low-Income Housing Tax Credit (LIHTC) program. The city's LIHTC-funded affordable housing inventory comprises 330 total units, including 2 designated as low-income units. This represents approximately 3.8% of the city's estimated 8,671 housing units.
Holiday has received $2,196,245 in project tax credits through the LIHTC program. With approximately 3 projects, this averages $732,082 per project, or $6,655 in federal funding per unit. The city accounts for 0.32% of Florida's total LIHTC funding allocation.
The initial LIHTC project in Holiday, Weston Oaks, was completed in 2001, while the most recent project, Park At Wellington II, was finished in 2017. This indicates a 16-year span of affordable housing development in the city. The 2010s witnessed the most affordable housing development activity, with two projects completed: Park At Wellington in 2017 and Park At Wellington II in 2018.
The LIHTC-funded housing in Holiday includes a variety of unit types: 40 one-bedroom units, 220 two-bedroom units, and 70 three-bedroom units. This distribution suggests accommodation for families and individuals with diverse space requirements.
Holiday's population has shown slight fluctuations over the past decade, increasing from 21,560 in 2013 to 22,631 in 2022. The median income has also risen, from $38,435 in 2013 to $42,609 in 2022. This modest income growth may indicate an ongoing need for affordable housing options in the community.
Racial demographics in Holiday have shifted. The white population decreased from 80% in 2013 to 71% in 2022. Conversely, the Hispanic population increased from 12% to 17%, and the Black population grew from 3% to 8% during the same period. These changes in racial composition suggest increasing diversity in the community, potentially influencing future affordable housing needs and planning.
Holiday's LIHTC-funded affordable housing inventory provides important housing options for the community, despite its modest size compared to the overall housing stock. The city has experienced consistent development of affordable housing projects over the past two decades, with various unit sizes accommodating different household needs. As the population continues to grow and diversify, and median income slowly increases, the ongoing provision of affordable housing through programs like LIHTC remains an important consideration for Holiday's housing landscape.
