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Affordable Housing in Zip Code 32601: Analysis of LIHTC-Funded Project in Gainesville, Florida
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 32601, located in Gainesville, Florida, contains a single Low-Income Housing Tax Credit (LIHTC) funded affordable housing project. This zip code has 64 affordable housing units, all part of one LIHTC-funded development. Based on the 2022 population of 25,477 and the national average household size of 2.61, the estimated number of housing units in this zip code is approximately 9,761. The LIHTC-funded affordable housing represents about 0.66% of the estimated housing inventory in zip code 32601.
The LIHTC project in zip code 32601 received $1,042,127 in tax credits, equating to an average federal funding of $16,283 per unit. This funding constitutes 0.15% of Florida's total LIHTC allocation. The sole LIHTC project in this zip code, Arbours At Tumblin Creek, was completed in 2018. The project consists of 64 units, comprising 36 one-bedroom and 28 two-bedroom apartments.
Over the past decade, zip code 32601 has experienced significant demographic changes. The population increased from 20,176 in 2010 to 25,477 in 2022, a 26.3% growth. Median income in the area rose from $23,492 in 2013 to $27,132 in 2022. Despite this increase, the median income remains relatively low.
Racial demographics in zip code 32601 have shown shifts from 2013 to 2022. The white population decreased slightly from 62% to 61%, while the Black population decreased from 19% to 16%. The Hispanic population increased from 10% to 13%, and the Asian population grew from 4% to 7%.
Zip code 32601 in Gainesville, Florida, has a single LIHTC-funded affordable housing project completed in 2018, providing 64 units. This represents a small percentage of the estimated housing inventory but marks a recent investment in affordable housing for the area. The zip code has experienced significant population growth and demographic changes over the past decade, potentially influencing the need for affordable housing options. Ongoing assessment of affordable housing needs will be crucial to ensure adequate housing options for all residents in zip code 32601.
