Loading Content...
Affordable Housing in Zip Code 32829: LIHTC's Impact on Orlando's River Ridge Development
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 32829 in Orlando, Florida, contains a single LIHTC-funded affordable housing project. This area has 160 total units in LIHTC-funded projects, with 16 designated as low-income units. Based on the 2022 population of 20,029 and an estimated 7,674 housing units, the LIHTC-funded affordable housing comprises approximately 2.08% of the zip code's estimated housing inventory.
The LIHTC program has invested $902,604 in tax credits for affordable housing projects in this zip code. This equates to an average federal funding of $5,641 per unit. Zip code 32829 accounts for 0.13% of Florida's total LIHTC funding, representing a small but notable contribution to the state's affordable housing efforts.
The sole LIHTC-funded project in this zip code is River Ridge, completed in 2012. This project has provided affordable housing options for over a decade. River Ridge offers a range of unit types, including 18 one-bedroom, 24 two-bedroom, 95 three-bedroom, and 23 four-bedroom units, accommodating various household sizes and needs.
Zip code 32829 has experienced demographic changes over the past decade. The population has remained relatively stable, with a slight decrease from 20,138 in 2012 to 20,029 in 2022. Median income has shown an overall upward trend, increasing from $70,670 in 2013 to $78,944 in 2022, indicating improved economic conditions for residents.
Race distribution trends show a growing Hispanic population, increasing from 47% in 2013 to 60% in 2022. The white population has decreased from 31% to 25% during the same period. The Black population has also seen a slight decrease from 8% to 6%. These demographic shifts may influence future affordable housing needs in the area.
Zip code 32829 in Orlando, Florida, has a modest LIHTC-funded affordable housing presence, with one project providing 160 units, of which 16 are designated as low-income. The River Ridge project, completed in 2012, offers a range of unit sizes to accommodate diverse household needs. While the LIHTC-funded units represent a small percentage of the estimated housing inventory, they constitute a significant investment in affordable housing for the area. The zip code's changing demographics, including income growth and shifts in racial composition, may impact future affordable housing requirements and strategies in this community.
