Loading Content...
LIHTC Funded Affordable Housing in Harlem McBride: A Demographic Analysis
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Harlem McBride, a neighborhood in Oakland Park, Florida, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood contains 62 total units in LIHTC funded projects, which represents approximately 6.6% of the estimated 943 housing units in the area. This estimation is based on the 2022 population of 2,460 and the national average household size of 2.61.
The LIHTC program has invested $1,435,000 in tax credits for affordable housing projects in Harlem McBride. This equates to an average federal funding of about $23,145 per unit. The LIHTC funded affordable housing inventory in the neighborhood consists of 12 one-bedroom units, 48 two-bedroom units, and 2 three-bedroom units, providing a range of housing options for different household sizes.
The primary LIHTC funded project in the neighborhood is Oakland Preserve, completed in 2018. This project marks the beginning of LIHTC's presence in Harlem McBride, indicating a relatively recent focus on affordable housing development in this area.
Harlem McBride has experienced notable demographic shifts over the past decade. The population has grown from 1,723 in 2013 to 2,460 in 2022. Median income has increased from $37,322 in 2013 to $48,440 in 2022, suggesting an improving economic situation for residents.
Racial demographics have also changed. The Black population has increased from 59% in 2013 to 62% in 2022, while the Hispanic population has grown from 12% to 25% during the same period. The White population has decreased from 25% to 10%. These changes indicate a shift towards a more diverse community.
The completion of Oakland Preserve in 2018 coincides with a period of population growth and increasing diversity in the neighborhood. This suggests that the LIHTC project may have been developed in response to changing demographic needs and increasing demand for affordable housing options.
Harlem McBride's LIHTC funded affordable housing inventory, while relatively new, represents a significant portion of the neighborhood's estimated housing stock. The Oakland Preserve project has brought 62 affordable units to the area, primarily consisting of one and two-bedroom apartments. This development aligns with the neighborhood's demographic trends of population growth, increasing diversity, and rising median income. Further analysis of other housing programs and market-rate options would be necessary to fully assess the neighborhood's overall affordable housing landscape.
