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Affordable Housing in Zip Code 34119: Two Decades of LIHTC Funded Units in Vineyards, 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 34119, located in Vineyards, Florida, houses a population of 33,713 as of 2022. This area contains a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 390 total units, all of which are designated as low-income units. Based on the estimated housing inventory of 12,917 units, LIHTC funded affordable housing comprises approximately 3.02% of the zip code's housing stock.
The LIHTC program has funded two projects in zip code 34119: Brittany Bay and Brittany Bay II. Brittany Bay, completed in 2002, offers 182 units, while Brittany Bay II, finished in 2003, provides 208 units. This indicates that affordable housing has been present in the area for over two decades.
The early 2000s witnessed the most affordable housing development activity in this zip code. The distribution of units across these projects includes 80 one-bedroom, 192 two-bedroom, 86 three-bedroom, and 32 four-bedroom units. This diverse mix of unit sizes suggests an effort to accommodate various household sizes within the affordable housing inventory.
Over the past decade, the population in zip code 34119 has grown significantly, increasing from 24,542 in 2013 to 33,713 in 2022. This represents a growth rate of about 37.4%. Concurrently, the median income has also risen, from $93,576 in 2013 to $101,227 in 2022, an increase of approximately 8.2%.
The racial composition of the area has remained relatively stable, with a slight decrease in the white population from 83% in 2013 to 77% in 2022. The Hispanic population has shown the most notable increase, growing from 9% in 2013 to 17% in 2022.
Despite the population growth and rising median income, no new LIHTC projects have been developed in the last decade. This could be due to the relatively high median income in the area, which may reduce the perceived need for additional affordable housing units.
Zip code 34119 in Vineyards, Florida, has a modest LIHTC funded affordable housing inventory, covering about 3.02% of the estimated housing stock. The two LIHTC projects, both completed in the early 2000s, provide a total of 390 low-income units with a mix of unit sizes. While the population has grown significantly over the past decade and the racial composition has diversified slightly, no new LIHTC projects have been developed during this period. The rising median income in the area may be a factor in the lack of recent affordable housing development through the LIHTC program.
