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Affordable Housing Dynamics in Hamilton: LIHTC's Impact on a Changing Neighborhood
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Hamilton, a neighborhood in Novato, California, presents a distinct affordable housing landscape characterized by Low-Income Housing Tax Credit (LIHTC) funded units. The neighborhood contains 128 total LIHTC units, with 127 designated as low-income. Based on the 2022 population of 4,452 and an estimated 1,706 housing units, LIHTC-funded affordable housing comprises approximately 7.5% of the neighborhood's estimated housing inventory.
The LIHTC program has invested $761,820 in tax credits for affordable housing projects in Hamilton, averaging about $5,952 per unit in federal funding. The neighborhood's affordable housing inventory is represented by a single project, the Villas At Hamilton Senior Apartments, completed in 2002. This project has provided affordable housing options in the neighborhood for over two decades.
The Villas At Hamilton Senior Apartments offers a range of unit types to address various household needs. The project includes 41 efficiencies, 69 one-bedroom units, and 18 two-bedroom units. This distribution indicates a focus on accommodating smaller households and seniors, consistent with the project's name.
Hamilton has experienced demographic shifts over the past decade. The population has fluctuated, decreasing from 5,443 in 2019 to 4,452 in 2022. Despite this population decline, the median income has remained relatively high, reaching $102,883 in 2022. This suggests that while the neighborhood may have fewer residents, those who remain tend to have higher incomes.
Racial demographics have also evolved. The white population decreased from 62% in 2017 to 54% in 2021, before increasing to 62% in 2022. Concurrently, there has been a gradual increase in the Asian population, rising from 11% in 2017 to 12% in 2022. The Hispanic population has fluctuated between 11% and 19% over the past decade.
These demographic trends, particularly the high median income and the relatively stable racial composition, may explain why no new LIHTC projects have been developed in the neighborhood since 2002. The existing project continues to serve its purpose in providing affordable housing options, particularly for seniors, in an area where incomes have generally remained high.
Hamilton's affordable housing landscape is characterized by a single LIHTC-funded project, the Villas At Hamilton Senior Apartments, which has served the community since 2002. This project provides 127 low-income units, covering about 7.5% of the estimated housing inventory. While this falls short of the ideal 15-20% affordable housing stock, other programs may contribute to the overall affordable housing inventory in the area.
The neighborhood has experienced demographic changes over the past decade, including population fluctuations and shifts in racial composition. Despite these changes, the median income has remained relatively high, which may explain the lack of new LIHTC developments since 2002. The existing project continues to play a crucial role in providing affordable housing options, particularly for seniors, in this evolving neighborhood.
