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Affordable Housing Development in Reedley, California: A Three-Decade Journey
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Reedley, a city in California, has a LIHTC-funded affordable housing inventory that contributes to its housing landscape. The city has 281 total units in LIHTC-funded projects, with 279 designated as low-income units. Based on the estimated 10,179 housing units in Reedley, the LIHTC-funded affordable housing covers approximately 2.76% of the city's housing inventory.
Reedley has received $1,879,100 in project tax credits from the LIHTC program. With approximately 6 projects, this translates to an average of $313,183 in federal funding per project. The average federal funding per unit is about $6,687. Reedley holds 0.06% of California's total LIHTC funding, indicating a modest share of the state's affordable housing resources.
The city's involvement with LIHTC-funded affordable housing spans from 1988 to 2015, demonstrating nearly three decades of affordable housing development. The earliest project, Riverland Apartments, was completed in 1988, while the most recent, also named Riverland Apartments, was finished in 2015. The 2010s saw the most activity, with three projects completed in 2014 and 2015.
Reedley's LIHTC-funded housing stock includes a mix of unit sizes, with 32 one-bedroom, 100 two-bedroom, and 51 three-bedroom units. This distribution suggests a focus on accommodating families of various sizes within the affordable housing framework.
Over the past decade, Reedley's population has remained relatively stable, with slight fluctuations. The median income has shown an overall increase, rising from $53,000 in 2013 to $51,617 in 2022, with some variations in between. This trend might indicate a growing need for affordable housing options to support lower-income residents.
The racial composition of Reedley has seen changes, with the Hispanic population increasing from 77% in 2013 to 80% in 2022. Concurrently, the white population decreased from 19% to 15%. This shift in demographics could influence the demand for culturally appropriate affordable housing solutions.
Reedley's LIHTC-funded affordable housing inventory, while modest in size, plays a role in addressing the city's housing needs. The city has maintained a commitment to affordable housing development over nearly three decades, with a focus on family-sized units. The recent demographic trends, including population stability and shifts in racial composition, underscore the importance of affordable housing initiatives in Reedley. As the city continues to evolve, monitoring these trends will be crucial for aligning future affordable housing projects with community needs.
