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Affordable Housing in University, Florida: Three Decades of LIHTC Development
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
University, a Florida community, has a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city has 1,621 affordable housing units, with 1,171 designated as low-income units. This accounts for approximately 8.7% of the city's estimated 18,674 housing units.
The city has received $4,383,246 in project tax credits through the LIHTC program. With approximately 17 projects, this averages $257,838 in federal funding per project, or $2,704 per unit. University holds 0.65% of Florida's total LIHTC funding, indicating a notable share of the state's affordable housing resources.
The affordable housing presence in University spans from 1990 to 2016. The first recorded LIHTC project, Jeflis Apts, was completed in 1990, while the most recent project, Haley Park, was finished in 2016. This 26-year period demonstrates a long-standing commitment to affordable housing in the area.
The 1990s saw significant affordable housing development, with projects like Cinnamon Cove (1994), Arbor Place (1998), and Oak Chase (1999) being completed. The 2000s also witnessed substantial activity, including projects such as Royal Palm Key (2003), Lansdowne Terrace and Fountainview (both in 2006), and Evergreen and Oaks At Stone Fountain (both in 2007).
The LIHTC-funded projects in University offer a diverse range of housing options. Out of the 1,621 total units, there are 2 efficiencies, 445 one-bedroom units, 660 two-bedroom units, 203 three-bedroom units, and 144 four-bedroom units. This distribution caters to various household sizes and needs within the community.
University has experienced steady population growth, increasing from 41,679 in 2013 to 48,738 in 2022. The median income has also risen, from $22,315 in 2013 to $28,580 in 2022, indicating improving economic conditions for residents.
Racial demographics have shown some shifts. The Hispanic population has increased from 31% in 2013 to 36% in 2022, while the White population has decreased from 31% to 27% during the same period. The Black population has remained relatively stable, decreasing slightly from 30% to 28%. These demographic changes may influence future affordable housing needs and planning.
University's LIHTC-funded affordable housing inventory plays a significant role in meeting the community's housing needs. With 1,621 total units and 1,171 low-income units, it covers 8.7% of the estimated housing stock. The city has received over $4.3 million in tax credits, demonstrating substantial investment in affordable housing. The diverse unit mix, spanning from efficiencies to four-bedroom apartments, caters to various household sizes. While the most recent LIHTC project was completed in 2016, the city's growing population and changing demographics suggest an ongoing need for affordable housing options. The steady increase in median income and shifts in racial composition may influence future affordable housing strategies in University.
