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Affordable Housing in DeLand: LIHTC's Impact on a Growing Florida City
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
DeLand, a city in Florida, has a notable Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city possesses 749 total units in LIHTC funded projects, with 638 of these designated as low-income units. Based on the 2022 population of 54,162 and an estimated housing inventory of 20,752 units, the LIHTC funded affordable housing comprises approximately 3.6% of the city's estimated housing stock.
DeLand has received $6,905,000 in project tax credits through the LIHTC program. With approximately 8 projects, this translates to an average of $863,125 in federal funding per project. When divided by the total number of units, it amounts to about $9,218 in federal funding per unit. DeLand holds 1.02% of Florida's total LIHTC state funding, indicating a modest but notable share of affordable housing resources within the state.
The city's LIHTC funded affordable housing spans nearly two decades, with the earliest project, Lexington Club At Hunters Creek, completed in 2001, and the most recent projects, Pines - DeLand and Banyan Cove, finished in 2019. The 2010s saw the most affordable housing activity, with four projects completed during this decade.
The affordable housing inventory in DeLand includes a diverse mix of unit types. There are 6 efficiencies, 61 one-bedroom units, 126 two-bedroom units, 173 three-bedroom units, and 61 four-bedroom units, catering to various household sizes and needs.
Over the past decade, DeLand has experienced steady population growth, increasing from 43,256 in 2013 to 54,162 in 2022. This 25% population increase aligns with the development of new LIHTC projects, particularly the two completed in 2019. Median income in DeLand has shown an overall upward trend, rising from $46,632 in 2013 to $56,240 in 2022, with some fluctuations. This increase in median income may indicate a growing need for affordable housing options to support lower-income residents.
Racial demographics have remained relatively stable, with a slight decrease in the white population (from 71% in 2013 to 66% in 2022) and an increase in the Hispanic population (from 12% to 19% over the same period). This demographic shift may influence future affordable housing needs and planning.
DeLand's LIHTC funded affordable housing inventory represents a small but important portion of the city's housing stock. The city has consistently developed affordable housing projects over the past two decades, with increased activity in recent years. The diverse mix of unit types suggests an effort to meet varied household needs. As the population continues to grow and demographics shift, ongoing assessment and development of affordable housing options will be crucial to meet the changing needs of DeLand's residents.
