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Affordable Housing in Point Baker: Analysis of Single LIHTC Project Impact
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Point Baker, Florida, has one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project in its housing inventory. This project, Carter Crossing, provides 9 units. Based on the city's 2022 population of 7,879 and using the national average household size, the estimated housing inventory is approximately 3,019 units. The LIHTC project accounts for about 0.3% of the city's estimated housing stock.
The LIHTC program has allocated $1,386,742 in tax credits to Point Baker for affordable housing development. This translates to an average federal funding of $1,386,742 per project and approximately $154,082 per unit. Point Baker holds 0.2% of Florida's total LIHTC funding allocation.
Carter Crossing, completed in 2019, is the sole LIHTC project in Point Baker. This project has provided affordable housing options to the community for about four years. The development consists of 6 one-bedroom units and 3 two-bedroom units, offering a mix of housing options for different household sizes.
Point Baker has experienced demographic shifts over the past decade. The population has grown from 6,978 in 2013 to 7,879 in 2022, indicating a moderate increase. Median income has risen from $54,937 in 2013 to $68,162 in 2022, suggesting improving economic conditions for some residents.
Racial distribution has remained relatively stable, with a slight decrease in the white population from 85% in 2013 to 79% in 2022. There have been small increases in Asian, Hispanic, and Pacific Islander populations, indicating a gradual diversification of the community.
The introduction of the LIHTC project in 2019 coincides with a period of population growth and increasing median income. This suggests that the affordable housing development may have been a response to the growing need for diverse housing options as the community expanded and potentially faced rising housing costs.
Point Baker's affordable housing landscape is characterized by a single LIHTC project, Carter Crossing, which contributes 9 units to the city's housing inventory. This represents a small percentage of the estimated housing stock. The federal investment per unit underscores the commitment to quality affordable housing. The demographic trends over the past decade, including population growth and increasing median income, provide context for the timing of this affordable housing development. As Point Baker continues to evolve, monitoring the balance between housing needs and affordable options will be crucial for community planning and development.
