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Affordable Housing in Zip Code 33625: LIHTC Funded Projects in Citrus Park, 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 33625, located in Citrus Park, Florida, contains 566 units of Low-Income Housing Tax Credit (LIHTC) funded affordable housing, with 548 designated as low-income units. The estimated housing inventory for this zip code is approximately 10,490 units, based on the 2022 population of 27,379 and the national average household size. LIHTC funded affordable housing comprises about 5.4% of the estimated housing inventory in this zip code.
The LIHTC projects in zip code 33625 have received $1,592,809 in tax credits, averaging $2,813 in federal funding per unit. This zip code accounts for 0.24% of the total state LIHTC funding. Affordable housing has been present in this zip code since at least 1998, with the completion of the Cedar Forest project. The most recent project, Gardens At Rose Harbor, was completed in 2004, indicating a 6-year period of affordable housing development.
The LIHTC funded projects in zip code 33625 offer a range of unit types, including 104 one-bedroom units, 240 two-bedroom units, 92 three-bedroom units, and 75 four-bedroom units, accommodating various household sizes and needs.
The population in zip code 33625 has grown from 24,584 in 2015 to 27,379 in 2022. The median income has fluctuated, peaking at $79,951 in 2021 before decreasing to $67,780 in 2022. This variability in income levels suggests a continued need for affordable housing options.
Racial demographics in zip code 33625 have changed notably. The Hispanic population has increased from 37% in 2015 to 44% in 2022, while the white population has decreased from 48% to 39% during the same period. The Asian and Black populations have remained relatively stable. These demographic changes may influence future affordable housing needs and preferences in the area.
Zip code 33625 in Citrus Park, Florida, demonstrates a commitment to affordable housing through its LIHTC funded projects. With 566 total units, including 548 low-income units, these projects contribute to addressing the area's affordable housing needs. The early 2000s were particularly active for affordable housing development in this zip code. While the LIHTC funded units cover about 5.4% of the estimated housing inventory, demographic trends, including population growth and income fluctuations, suggest an ongoing need for affordable housing options in this diverse and evolving community.
