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Affordable Housing in Zip Code 33301: Analysis of LIHTC-Funded Project Eclipse in Fort Lauderdale
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 33301 in Fort Lauderdale, Florida, contains a LIHTC-funded affordable housing project. The area has 101 affordable housing units, with 79 designated as low-income units. Based on the estimated 6,291 housing units in the zip code, LIHTC-funded affordable housing comprises approximately 1.6% of the area's housing inventory.
The LIHTC program has invested $2,435,000 in tax credits for affordable housing in this zip code. This equates to an average federal funding of $24,109 per unit. This investment represents 0.36% of Florida's total LIHTC funding allocation.
The single LIHTC-funded project in this zip code, named Eclipse, was completed in 2009. This project has provided affordable housing options in the area for over a decade. The Eclipse project offers a mix of unit types, including 27 efficiencies, 56 one-bedroom units, and 18 two-bedroom units, accommodating various household sizes and needs.
The population in zip code 33301 has grown steadily, increasing from 13,223 in 2015 to 16,419 in 2022. This represents a population growth of 24% during this period. The median income has risen from $96,451 in 2015 to $106,900 in 2022, indicating an increase in the area's economic prosperity.
The racial demographics of the zip code have remained relatively stable. The white population decreased from 75% in 2015 to 68% in 2022. There has been a small increase in racial diversity, with increases in the Hispanic (14% to 17%), Black (7% to 8%), and Asian (1% to 2%) populations.
Despite the area's overall economic growth, the presence of LIHTC-funded affordable housing indicates a continued need for affordable options, possibly to maintain socioeconomic diversity in the face of rising incomes and property values.
Zip code 33301 in Fort Lauderdale features one LIHTC-funded affordable housing project, Eclipse, which provides 101 units, including 79 low-income units. This project, completed in 2009, represents an investment in affordable housing for the area. While the LIHTC-funded units comprise a small percentage of the total housing stock, they play a role in maintaining housing diversity in an area that has experienced population growth and increasing median incomes over the past decade. The mix of unit types in the Eclipse project serves various household sizes, contributing to the area's housing options.
