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Affordable Housing in Zephyrhills: LIHTC's Impact on Spring Water City
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zephyrhills, Florida, known as the "City of Pure Water," has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 358 total units, with 171 designated as low-income units. This accounts for approximately 3.8% of the city's estimated 9,356 housing units.
Zephyrhills has received $3,147,394 in project tax credits for affordable housing through the LIHTC program. With approximately 5 projects, this translates to an average of $629,479 in federal funding per project, or $8,792 per unit. The city holds 0.46% of Florida's total LIHTC funding.
The affordable housing projects in Zephyrhills span from 2011 to 2019, demonstrating nearly a decade of LIHTC-funded housing development. Notable projects include Fort King Colony and Grand Reserve At Zephyrhills, both completed in 2011, and Village Walk, completed in 2019.
The 2010s saw the most affordable housing activity, with four out of five projects completed during this decade. The housing unit breakdown shows a preference for two-bedroom units (149), followed by three-bedroom units (54), and one-bedroom units (36).
Zephyrhills has experienced population growth, increasing from 21,331 in 2010 to 24,419 in 2022. This growth aligns with the development of LIHTC projects during this period. The median income has generally increased from $37,718 in 2013 to $40,630 in 2022, potentially indicating a growing need for affordable housing options.
Racial demographics have shifted slightly, with the white population decreasing from 86% in 2013 to 77% in 2022, while the Hispanic population increased from 7% to 15% during the same period. This diversification may have influenced the demand for varied affordable housing options.
Zephyrhills' LIHTC-funded affordable housing inventory has grown steadily over the past decade. The city's investment in affordable housing aligns with its population growth and changing demographics. The focus on two-bedroom units suggests a priority on accommodating small families or couples. As the city continues to evolve, monitoring the relationship between demographic trends and affordable housing needs will be crucial for future development planning.
