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West Melbourne's Affordable Housing: LIHTC Impact 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
West Melbourne, Florida, has implemented the Low-Income Housing Tax Credit (LIHTC) program to address affordable housing needs. The city's LIHTC-funded affordable housing inventory comprises 117 total units, with 112 designated as low-income units. This represents approximately 0.77% of the city's estimated 15,206 housing units.
West Melbourne has received $1,300,000 in project tax credits through the LIHTC program. With one project, this equates to an average federal funding of $1,300,000 per project and $11,111 per unit. The city's allocation represents 0.19% of Florida's total LIHTC funding, indicating a relatively small portion of the state's overall allocation.
The sole LIHTC project in West Melbourne, Promise In Brevard, was completed in 2018. This project marks the introduction of LIHTC-funded affordable housing in the city. The development offers a range of unit types, including 6 one-bedroom units, 27 two-bedroom units, 6 three-bedroom units, and 24 four-bedroom units, accommodating families of various sizes.
West Melbourne's population has grown significantly, increasing from 28,160 in 2010 to 39,687 in 2022, a 41% increase. This population growth may have contributed to the need for affordable housing options, leading to the development of the Promise In Brevard project in 2018.
The city's median income has risen from $57,895 in 2013 to $72,262 in 2022. Despite this increase, the presence of LIHTC-funded housing indicates a continued need for affordable options for lower-income residents.
West Melbourne's racial demographics have shifted over the past decade. The white population has decreased from 84% in 2013 to 71% in 2022, while other racial groups have experienced modest increases. The Hispanic population has grown from 8% to 14% during this period. These demographic changes may have influenced the decision to develop affordable housing to serve a more diverse population.
West Melbourne's LIHTC-funded affordable housing, while limited in scope, represents an important step in addressing the city's housing needs. The Promise In Brevard project offers 117 units with various configurations to serve different household sizes. Despite the city's growing population and increasing median income, the presence of this LIHTC project indicates an ongoing need for affordable housing options. As West Melbourne continues to evolve demographically, affordable housing may play an increasingly important role in supporting a diverse and inclusive community.
