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Affordable Housing in Delray Beach: Two Decades of LIHTC Development
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Delray Beach, a coastal city in Florida, has a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city has 1,106 total affordable units, all designated as low-income units. This represents approximately 4.3% of the city's estimated 25,684 housing units.
Delray Beach has received $702,208 in project tax credits through the LIHTC program. With approximately 6 projects, this translates to an average federal funding of $117,035 per project and $635 per unit. The city holds 0.1% of the total state LIHTC funding, indicating a modest share of Florida's affordable housing resources.
The LIHTC program has been contributing to affordable housing in Delray Beach for over two decades. The earliest recorded project, Lake Delray, was completed in 2000, while the most recent, Courts At Village Square, was finished in 2019. This 19-year span demonstrates a consistent commitment to affordable housing development in the city.
The 2010s saw the most activity in affordable housing construction, with four projects completed during this decade: Village At Delray (2011), Groves Of Delray (2012), Villas At Village Square (2014), and Courts At Village Square (2019).
The LIHTC-funded projects in Delray Beach offer a diverse range of unit types. The inventory includes 4 efficiencies, 185 one-bedroom units, 193 two-bedroom units, and 54 three-bedroom units, catering to various household sizes and needs.
Over the past decade, Delray Beach has experienced some demographic shifts. The population grew from 65,054 in 2014 to 67,035 in 2022, a 3% increase. During this period, the median income rose from $48,174 in 2014 to $80,000 in 2022, indicating improving economic conditions for many residents.
Racial demographics have remained relatively stable, with some minor changes. The white population decreased from 59% in 2014 to 53% in 2022, while the Black population increased from 25% to 28%. The Hispanic population increased from 12% to 13%. These changes suggest a gradual diversification of the city's population.
The construction of LIHTC projects during this period, particularly the Courts At Village Square in 2019, aligns with the city's population growth and increasing diversity. Despite rising median incomes, the continued development of affordable housing indicates an ongoing need to support lower-income residents in an area with potentially rising housing costs.
Delray Beach's LIHTC-funded affordable housing inventory represents a small but significant portion of the city's housing stock. The consistent development of affordable housing projects over two decades demonstrates a long-term commitment to addressing housing needs. While the city has experienced economic growth and demographic changes, the continued investment in affordable housing suggests an ongoing effort to maintain housing accessibility for lower-income residents. The diverse range of unit types in LIHTC projects reflects an attempt to meet varied housing needs within the community.
