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Port St. Lucie's Affordable Housing: LIHTC Funded Inventory in a Growing Florida City
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Port St. Lucie, a city on Florida's Treasure Coast, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 1,067 units. All of these units are designated as low-income. This inventory represents approximately 1.2% of the city's estimated 88,814 housing units.
Port St. Lucie has received $1,138,603 in project tax credits through the LIHTC program. With approximately 7 projects, the average federal funding per project is $162,657. The average federal funding per unit is $1,067. The city holds 0.17% of Florida's total LIHTC funding.
The first LIHTC project in Port St. Lucie, Hillmoor Townhomes, was completed in 1991. The most recent project, Grove Park, was finished in 2016. This 25-year span indicates a long-term commitment to affordable housing in the city. The 2000s saw the most affordable housing projects completed, including Sanctuary At Winterlakes (2001), Peacock Run (2003), and St Andrews Pointe (2004).
The LIHTC funded housing in Port St. Lucie offers a range of unit sizes: 194 one-bedroom, 223 two-bedroom, 209 three-bedroom, and 53 four-bedroom units. This variety accommodates different household sizes within the low-income population.
Port St. Lucie's population increased from 165,153 in 2010 to 231,804 in 2022, a growth of over 40%. The median income rose from $48,562 in 2013 to $70,613 in 2022, a 45% increase. Despite this growth, the continued presence of LIHTC projects suggests an ongoing demand for affordable housing among lower-income residents.
The racial distribution in Port St. Lucie has changed slightly from 2015 to 2022. The white population decreased from 60% to 51%, while the Hispanic population increased from 19% to 24%, and the Black population increased from 16% to 18%. This diversity emphasizes the importance of maintaining and potentially expanding affordable housing options to serve all community members.
Port St. Lucie's LIHTC funded affordable housing inventory represents a consistent effort to provide low-income housing options. The city has maintained a steady pace of affordable housing development over the past 25 years, with a focus on diverse unit sizes to accommodate various household needs. As the population continues to grow and diversify, ongoing attention to affordable housing initiatives will be crucial to meet the evolving needs of the community.
