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Affordable Housing in Westchester: LIHTC Funding and Demographic Trends
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Westchester, Florida, has a total of 306 affordable housing units funded by the Low-Income Housing Tax Credit (LIHTC) program. All of these units are designated as low-income units. This represents approximately 1.5% of the city's estimated housing inventory of 20,600 units, indicating a small but targeted effort to provide affordable housing options.
The LIHTC program has provided $454,666 in project tax credits to Westchester. With approximately 3 projects, this amounts to an average federal funding of $151,555 per project and $1,486 per unit. Westchester's share of Florida's total LIHTC funding is 0.07%, suggesting a minor but notable contribution to the state's affordable housing initiatives.
The earliest known LIHTC project in Westchester is Postmaster, completed in 2009. The 2000s decade saw the most affordable housing activity in the city. The LIHTC-funded housing includes 48 one-bedroom units and 7 two-bedroom units, providing options for different household sizes.
Westchester's population has remained relatively stable over the last decade, with slight fluctuations. The median income has shown an overall increasing trend, rising from $53,314 in 2013 to $67,007 in 2022. This income growth may influence the demand for affordable housing in the area.
Racial demographics in Westchester have remained fairly consistent. The population is predominantly Hispanic, comprising around 88-90% throughout the decade. The white population has stayed around 7-8%, while there have been slight increases in the Asian and Black populations.
Westchester's LIHTC-funded affordable housing represents a small but significant part of the city's housing landscape. With 306 low-income units across approximately 3 projects, the program has contributed to diversifying housing options in the area. The city's demographic trends, including a rising median income and stable population, provide context for understanding the role of affordable housing in this Florida community. While the LIHTC program's contribution is modest compared to the overall housing stock, it plays a part in addressing affordable housing needs in Westchester.
