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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Holiday Hill, a neighborhood in Jacksonville, Florida, has a population of 8,811 as of 2022. The area features a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing, totaling 418 units, all designated as low-income. This comprises approximately 12.4% of the neighborhood's estimated 3,376 housing units, approaching the target percentage for a well-balanced community.
The LIHTC program has invested $1,355,897 in tax credits for affordable housing projects in Holiday Hill. This investment averages about $3,243 per unit. Two notable LIHTC projects in the neighborhood are Peyton Ridge and Regency Green, with Peyton Ridge completed in 2016 as the most recent addition to the affordable housing inventory.
The affordable housing inventory in Holiday Hill consists of 63 one-bedroom units and 6 two-bedroom units. This distribution indicates a focus on smaller households, potentially aligning with the local population's needs.
Over the past decade, Holiday Hill has experienced demographic shifts. The population has grown from 7,472 in 2015 to 8,811 in 2022, suggesting an increasing demand for housing. Median income has also risen significantly, from $38,065 in 2015 to $51,461 in 2022. This income growth may have influenced the need for affordable housing options in the area.
Racial demographics have remained relatively stable, with minor fluctuations. The Black population decreased slightly from 41% in 2015 to 34% in 2022, while the Hispanic population increased from 14% to 16% during the same period. The White population remained relatively constant, moving from 37% to 36%. These demographic changes may have influenced the planning and development of affordable housing projects such as Peyton Ridge, completed in 2016.
Holiday Hill's LIHTC funded affordable housing inventory plays a significant role in meeting the neighborhood's housing needs, covering about 12.4% of the estimated housing stock. The $1,355,897 investment in tax credits demonstrates a commitment to providing affordable options for low-income residents. The completion of Peyton Ridge in 2016 indicates ongoing efforts to address affordable housing needs in the area. The demographic trends, including population growth and increasing median income, suggest a dynamic community that may continue to require diverse housing options to accommodate various income levels and household sizes.