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Affordable Housing in Millenia: LIHTC's Impact on a Diverse Orlando Neighborhood
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The Millenia neighborhood in Orlando, Florida, features a significant proportion of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area contains 1,504 units in LIHTC-funded projects, with 1,345 designated as low-income units. This represents approximately 19.5% of the neighborhood's estimated 7,698 housing units, based on the 2022 population of 20,092. This percentage aligns with targets for a balanced community.
The LIHTC program has invested $4,260,073 in tax credits in Millenia, averaging about $2,832 per unit in LIHTC-funded projects. Affordable housing development in the area spans nearly two decades, with the earliest project completed in 1993 and several projects finished in 2008. The 2000s were particularly active for affordable housing development in Millenia.
LIHTC-funded housing in Millenia offers a range of unit types, including 165 one-bedroom, 498 two-bedroom, 441 three-bedroom, and 94 four-bedroom units. This distribution accommodates families of various sizes within the affordable housing stock.
Millenia has experienced significant demographic changes over the past decade. The population increased from 15,108 in 2013 to 20,092 in 2022, a growth of approximately 33%. Concurrently, the median income rose from $38,966 in 2013 to $48,171 in 2022, indicating some economic improvement in the area.
The neighborhood has become increasingly diverse. The Hispanic population grew from 40% in 2013 to 54% in 2022, while the Black population decreased slightly from 31% to 24%. The White population also decreased from 19% to 14%. These demographic shifts suggest a dynamic community with potentially changing affordable housing needs.
The consistent presence of LIHTC projects throughout this period of demographic change indicates an ongoing commitment to maintaining affordable housing options as the population grows and community composition shifts.
The Millenia neighborhood demonstrates a substantial LIHTC-funded affordable housing inventory, covering nearly 20% of its estimated housing stock. This aligns with recommended targets for affordable housing. The area has seen steady development of affordable housing over time, particularly in the 2000s. The diverse unit types available accommodate various household sizes, reflecting the neighborhood's changing demographics. As Millenia continues to grow and evolve, with increasing population and median income, the established LIHTC housing stock provides a foundation for maintaining economic diversity and housing accessibility in the community.
