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Affordable Housing Impact in Folsom Road Neighborhood, Roseville: LIHTC Project Analysis
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The Folsom Road neighborhood in Roseville, California features Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood contains 58 units in LIHTC funded projects, with 55 designated as low-income units. Based on the 2022 population of 3,404 and using the national average household size, the estimated housing units in the neighborhood are approximately 1,304. The LIHTC funded affordable housing represents about 4.45% of the estimated housing inventory in the neighborhood.
The LIHTC program has made a significant investment in this neighborhood, with project tax credits totaling $1,409,575. This equates to an average federal funding of approximately $24,303 per unit in LIHTC funded projects. The Frederic Loshe Apartments, completed in 2018, is the only LIHTC funded project in the neighborhood. This project marks the introduction of LIHTC funded affordable housing in the area.
The Frederic Loshe Apartments provides a range of unit types to accommodate various household sizes. The project includes 12 one-bedroom units, 27 two-bedroom units, and 19 three-bedroom units. This distribution indicates a focus on housing small to medium-sized families in the affordable housing inventory.
Over the past decade, the neighborhood's population has shown fluctuation with an overall upward trend, increasing from 2,942 in 2012 to 3,404 in 2022. The median income has varied, ranging from $51,161 in 2018 to $59,086 in 2020, with the most recent figure at $57,537 in 2022.
Racial demographics in the neighborhood have evolved. The white population has remained the majority but decreased slightly from 74% in 2014 to 74% in 2022. The Hispanic population fluctuated, reaching a peak of 29% in 2019 but decreasing to 15% by 2022. There has been a notable increase in residents identifying as two or more races, rising from 1% in 2017 to 9% in 2022.
The completion of The Frederic Loshe Apartments in 2018 coincides with a period of relatively lower median income in the neighborhood, potentially addressing an increased need for affordable housing options during that time.
The Folsom Road neighborhood in Roseville has one LIHTC funded affordable housing project, The Frederic Loshe Apartments, which provides 58 units, including 55 low-income units. This project, completed in 2018, represents a significant investment in affordable housing for the area. While the LIHTC funded units comprise a small percentage of the estimated housing inventory, they offer a range of unit sizes to accommodate various household needs. The demographic trends over the past decade, including fluctuations in median income and shifts in racial composition, provide context for the timing and scale of this affordable housing development.
