Loading Content...
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 33143, located in Glenvar Heights, Florida, contains 188 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. These units, all designated as low-income, are situated within an 8.09 square mile area that had a population of 32,786 in 2022. The LIHTC funded affordable housing comprises approximately 1.5% of the estimated 12,562 housing units in the zip code, which is below the 15-20% target for affordable housing stock in a balanced community.
The LIHTC program has invested $2,526,990 in tax credits for affordable housing projects in zip code 33143. This equates to an average of $13,441 in federal funding per unit and represents 0.37% of the total LIHTC funding allocated to Florida. Two LIHTC funded projects exist in the area: South Miami Plaza, completed in 2014, and Metro South Senior, completed in 2016, indicating a focus on affordable housing development over the past decade.
The 2010s saw the most affordable housing development in this area, with both projects being completed during this period. The inventory of affordable units includes 15 efficiencies, 99 one-bedroom units, 56 two-bedroom units, and 8 three-bedroom units.
Over the past decade, the population in zip code 33143 has remained relatively stable, with minor fluctuations. The median income has shown some variability but has generally remained high, ranging from $95,876 to $104,741. This high median income may explain the relatively low percentage of LIHTC funded affordable housing in the area.
The racial demographics have shifted, with the Hispanic population increasing from 52% in 2013 to 62% in 2022. The white population decreased from 33% to 27% during the same period, while other racial groups remained relatively stable. This demographic shift may indicate a growing need for culturally sensitive affordable housing options.
Zip code 33143 has a modest but significant LIHTC funded affordable housing inventory, representing 1.5% of the estimated total housing units. The area has received over $2.5 million in tax credits for two projects completed in the mid-2010s. While the percentage of affordable housing is lower than the ideal target, the high median income in the area may partially explain this. The changing racial demographics, particularly the growing Hispanic population, may influence future affordable housing needs and development in this zip code.