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Affordable Housing in Westgate: LIHTC Funding and Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Westgate, a city in Florida, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The city contains 533 units in LIHTC-funded projects, with 461 designated as low-income units. Based on the 2022 population of 9,364 and an estimated 3,588 housing units, LIHTC-funded affordable housing comprises approximately 14.9% of the city's estimated housing inventory.
Westgate has received $1,535,435 in project tax credits for affordable housing through the LIHTC program. With approximately 4 projects, this equates to an average of $383,859 in federal funding per project. The average federal funding per unit is $2,880. The city accounts for 0.23% of Florida's total LIHTC funding, indicating a small but significant contribution to the state's affordable housing efforts.
Affordable housing has been present in Westgate for nearly three decades. The first LIHTC project, Palms West I, was completed in 1995, and the most recent, Westgate Plaza, was finished in 2012. The 1990s saw the most activity in affordable housing development, with two projects completed during this decade: Palms West I and Palms West II.
The LIHTC-funded housing in Westgate offers a range of unit types. The inventory includes 60 one-bedroom units, 258 two-bedroom units, 143 three-bedroom units, and 36 four-bedroom units. This distribution suggests a focus on accommodating families of various sizes.
Over the last decade, Westgate has experienced demographic shifts. The population peaked in 2019 at 11,245 but has since decreased to 9,364 in 2022. Despite this recent decline, the overall trend shows population growth compared to 2010. Median income has increased from $34,280 in 2013 to $45,404 in 2022, indicating improving economic conditions for residents.
The racial composition of Westgate has evolved. The Hispanic population has grown from 46% in 2013 to 65% in 2022. The Black population decreased from 32% to 17%, and the White population from 19% to 13% during the same period. The Asian population increased slightly from 1% to 3%.
These demographic changes, particularly the growth in population and median income, may have influenced the need for affordable housing in the city. The last LIHTC project was completed in 2012, which aligns with the period of population growth and the beginning of the upward trend in median income.
Westgate's LIHTC-funded affordable housing inventory plays a significant role in meeting the city's housing needs, covering approximately 14.9% of the estimated housing stock. The city has seen steady development of affordable housing projects from 1995 to 2012, with a focus on family-sized units. While there have been no new LIHTC projects in the last decade, the city has experienced population growth, increased median income, and shifts in racial composition. These demographic changes may influence future affordable housing needs and development in Westgate.
