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Affordable Housing in Pembroke Pines: Recent LIHTC Implementation
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Pembroke Pines, a city in Florida, has a population of 169,875 as of 2022. The city's Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory comprises 110 total units, with 11 designated as low-income units. Based on the estimated housing inventory of 65,086 units, the LIHTC funded affordable housing represents approximately 0.17% of the city's housing stock.
Pembroke Pines has received $864,960 in project tax credits from the LIHTC program. With one approximate project, this translates to an average federal funding of $864,960 per project. The average federal funding per unit is $7,863. Pembroke Pines holds 0.13% of Florida's total LIHTC funding.
The city's LIHTC funded affordable housing project, Douglas Gardens V, was completed in 2019. This project marks the beginning of LIHTC-funded affordable housing in Pembroke Pines, indicating a relatively recent focus on this type of housing development. The breakdown of units in LIHTC funded projects in Pembroke Pines includes 65 one-bedroom units and 45 two-bedroom units. This distribution suggests a focus on accommodating smaller households or individuals.
Over the past decade, Pembroke Pines has experienced modest population growth, increasing from 155,252 in 2010 to 169,875 in 2022. The median income has shown an upward trend, rising from $63,357 in 2013 to $79,144 in 2022, indicating improving economic conditions for many residents.
Race distribution trends show a significant Hispanic population, growing from 36% in 2015 to 50% in 2022. The Black population has remained relatively stable around 20-22%, while the White population has decreased from 37% in 2015 to 24% in 2022. The Asian population has consistently represented about 5-7% of the total.
The introduction of LIHTC funded housing in 2019 coincides with a period of population growth and increasing median income. This suggests that despite overall economic improvements, there was still a recognized need for affordable housing options in the city.
Pembroke Pines has recently begun utilizing LIHTC funding to address affordable housing needs, with one project completed in 2019. While the current LIHTC funded inventory represents a small portion of the city's estimated housing stock, it marks a starting point in addressing affordable housing through this federal program. The city's changing demographics, particularly the growth in Hispanic population and overall population increase, may have influenced the decision to introduce LIHTC funded housing. As Pembroke Pines continues to grow and evolve, ongoing assessment of affordable housing needs will be crucial for maintaining a balanced housing market.
