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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Sunrise, Florida, a city in Broward County, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 156 total units, with 30 designated as low-income units. This represents approximately 0.42% of the city's estimated housing inventory of 36,893 units. The city has received $2,150,000 in project tax credits through the LIHTC program, distributed across approximately 2 projects. This equates to an average federal funding of $1,075,000 per project, or about $13,782 per unit. Sunrise holds 0.32% of Florida's total state LIHTC funding.
The city's LIHTC-funded affordable housing development occurred between 2005 and 2012. The first project, Golf View Gardens, was completed in 2005, while the most recent project, Pinnacle At Avery Glen, was finished in 2012. The 2010s marked the most significant period of affordable housing development in Sunrise. The LIHTC inventory includes a mix of unit types: 44 one-bedroom, 76 two-bedroom, and 36 three-bedroom units, indicating a focus on accommodating various family sizes.
Sunrise has experienced steady population growth, increasing from 84,717 in 2010 to 96,291 in 2022. The median income has also risen, from $44,627 in 2013 to $74,047 in 2022. This economic improvement may partially explain the absence of new LIHTC projects since 2012. Racial demographics have shown slight changes, with the Hispanic population growing from 31% in 2017 to 34% in 2022, while the White population decreased from 27% to 24% during the same period. The Black population has remained relatively constant at around 32-33%.
The LIHTC-funded affordable housing inventory in Sunrise, though modest in size, represents a significant investment in the community. The city has utilized federal funding to create a diverse range of housing options, primarily focusing on one to three-bedroom units. Despite the absence of new LIHTC projects since 2012, the city's rising median income and steady population growth indicate changing economic dynamics that may impact future affordable housing needs.
As Sunrise continues to evolve, ongoing assessment of housing affordability will be crucial to ensure the city meets the needs of its diverse population. The demographic shifts observed, particularly in the Hispanic and White populations, may influence future affordable housing planning and development in the city.