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Affordable Housing in Groveland, Florida: LIHTC Inventory Amidst Rapid Population Growth
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Groveland, Florida, experienced a population increase to 30,212 in 2022. The city's Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory comprises 71 units, all designated as low-income. This represents approximately 0.61% of the city's estimated 11,575 housing units.
Groveland's LIHTC-funded projects include Greenleaf Village and Sun Village. Greenleaf Village, completed in 1995, offers 37 units, consisting of 32 one-bedroom and 5 two-bedroom apartments. Sun Village contributes an additional 34 units to the inventory. The 1990s marked the most significant LIHTC activity in Groveland, with at least one project completed during this period.
From 2013 to 2022, Groveland's population grew by approximately 60%, increasing from 18,920 to 30,212. The median income rose from $61,454 in 2013 to $62,597 in 2022, with fluctuations during this period. Racial demographics shifted, with the white population decreasing from 66% to 57%, the Hispanic population increasing from 15% to 23%, the Black population slightly increasing from 10% to 13%, and the Asian population growing from 1% to 4%.
Despite the significant population growth and demographic changes, no new LIHTC projects appear to have been developed in Groveland over the last decade. This situation suggests that other forms of affordable housing or housing assistance may be addressing the needs of the growing population, or that there might be a potential demand for additional affordable housing options in the future.
Groveland's LIHTC-funded affordable housing inventory, consisting of 71 units across two projects, represents a small portion of the city's estimated housing stock. The city has experienced significant population growth and demographic shifts over the past decade, including increases in median income and changes in racial composition. While LIHTC development seems to have been concentrated in the 1990s, the changing demographics and growing population may indicate a need for reassessment of affordable housing needs in the city.
It is important to note that LIHTC is only one of many potential affordable housing programs. A comprehensive analysis of all available housing assistance programs would be necessary to fully understand Groveland's affordable housing landscape. The current data suggests that the city may need to evaluate its affordable housing strategies to ensure they align with the evolving needs of its growing and diversifying population.
