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Affordable Housing in Alhambra: LIHTC's Impact on Urban Housing Landscape
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Alhambra, a city in California, possesses a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city's LIHTC program has produced 205 total units, with 203 designated as low-income units. Based on the estimated housing inventory of 30,752 units for the city's 2022 population, the LIHTC-funded affordable housing comprises approximately 0.67% of the city's housing stock.
Alhambra has received $779,975 in project tax credits through the LIHTC program. With two projects, this averages to $389,988 per project. The funding equates to an average of $3,805 per unit when considering all 205 units in LIHTC-funded projects. Alhambra accounts for 0.03% of California's total LIHTC funding.
The city's LIHTC-funded affordable housing spans from 1999 to 2006, indicating over two decades of affordable housing presence. The 1990s and 2000s each saw one project completed, with Main Street Plaza finished in 1999 and Wysong Village Apartments in 2006.
The LIHTC inventory in Alhambra consists primarily of one-bedroom units (183) and two-bedroom units (22). This distribution indicates a focus on accommodating smaller households or individuals.
Over the past decade, Alhambra's population has decreased, from 85,391 in 2017 to 80,264 in 2022. Despite this population decline, the median income has increased significantly, from $61,724 in 2017 to $72,406 in 2022. This income growth may indicate changing economic conditions in the city.
Racial demographics have remained relatively stable, with Asian and Hispanic populations being the largest groups. In 2022, the Asian population comprised 54% of the city, while the Hispanic population accounted for 35%. This diversity may influence the need for culturally sensitive affordable housing options.
Alhambra's LIHTC-funded affordable housing inventory, while modest in scale, provides important low-income housing options. The city's two LIHTC projects, completed in different decades, offer a mix of unit sizes, predominantly one-bedroom apartments. Despite recent population decreases, rising median incomes and stable racial demographics suggest a changing economic landscape that may influence future affordable housing needs in Alhambra.
