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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Tarpon River, a neighborhood in Fort Lauderdale, Florida, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood has a total of 105 affordable units, all of which are designated as low-income units. This inventory of affordable housing plays a role in meeting the community's housing needs.
Based on the 2022 population of 3,045 and the estimated 1,167 housing units, the LIHTC funded affordable housing covers approximately 9% of the neighborhood's estimated housing inventory. This percentage indicates a contribution to affordable housing options in Tarpon River, though it falls below the 15-20% target for a well-balanced community.
The LIHTC program has invested in Tarpon River, with project tax credits totaling $871,418. This translates to an average federal funding of $8,299 per unit, demonstrating a commitment to affordable housing in the area.
The neighborhood's LIHTC funded affordable housing is concentrated in one project, Sailboat Bend, which was completed in 2014. This project marks the beginning of LIHTC's presence in Tarpon River and represents the decade with the most affordable housing development.
Sailboat Bend offers a mix of unit types, catering to various household sizes. The project includes 61 efficiencies, 43 one-bedroom units, and 1 two-bedroom unit. This distribution suggests a focus on accommodating smaller households and individuals.
Over the past decade, Tarpon River has experienced fluctuations in its population, with a peak of 3,919 residents in 2017 and a decline to 3,045 by 2022. The median income has shown an upward trend, rising from $73,225 in 2017 to $77,481 in 2022.
The racial composition of Tarpon River has remained relatively stable, with a predominantly white population. There has been a slight increase in diversity, with small growth in Asian and multiracial populations. The Hispanic population has fluctuated, peaking at 20% in 2018 and 2020, before decreasing to 13% in 2022.
The completion of the Sailboat Bend project in 2014 coincides with a period of population growth and relatively stable median income in the neighborhood. This suggests that the LIHTC project was implemented during a time of increasing housing demand and economic stability in Tarpon River.
Tarpon River's affordable housing landscape is influenced by the LIHTC-funded Sailboat Bend project, which provides 105 low-income units. This represents about 9% of the estimated housing inventory, below the 15-20% target for affordable housing. The project's unit mix, with a focus on efficiencies and one-bedroom apartments, caters to smaller households. The neighborhood has experienced population fluctuations and an increase in median income over the past decade, with the LIHTC project being implemented during a period of growth. These factors highlight the importance of affordable housing initiatives in Tarpon River to maintain a diverse community.