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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
American River Canyon North, a neighborhood in Folsom, California, has one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project. This project, Bidwell Pointe, contributes 140 units to the neighborhood's housing inventory, with one designated as a low-income unit. Based on the 2022 population of 12,226 and the national average household size of 2.61, the estimated housing inventory for the neighborhood is approximately 4,684 units. The LIHTC-funded affordable housing project represents about 3% of the estimated housing inventory in the neighborhood.
The LIHTC program has provided $868,360 in tax credits for affordable housing in American River Canyon North. With 140 total units in the LIHTC-funded project, this translates to an average federal funding of approximately $6,203 per unit. Bidwell Pointe, completed in 2019, is both the first and only LIHTC project in the neighborhood, marking the beginning of LIHTC-funded affordable housing in this area.
The project offers a mix of unit types, with 74 one-bedroom units, 58 two-bedroom units, and 8 three-bedroom units. This distribution suggests a focus on accommodating smaller households and families. The project does not have a specified target population, indicating it may serve a general low-income demographic.
Over the past decade, American River Canyon North has experienced demographic shifts. The population has remained relatively stable, with minor fluctuations. However, the median income has shown a significant upward trend, increasing from $101,259 in 2013 to $131,010 in 2022. This rise in median income could potentially indicate a growing need for affordable housing options to maintain economic diversity in the neighborhood.
Racial demographics have also evolved. The white population has decreased from 82% in 2013 to 66% in 2022, while other racial groups have seen modest increases. The Hispanic population has grown from 8% to 15% during this period. The Asian population has also increased slightly from 5% to 8%. These changes in racial composition suggest a growing diversity in the neighborhood, which may influence future affordable housing needs.
American River Canyon North has a single LIHTC-funded affordable housing project, Bidwell Pointe, which was completed in 2019. This project contributes 140 units to the neighborhood's housing inventory, representing about 3% of the estimated total housing units. The project received significant federal funding through the LIHTC program and offers a mix of unit sizes to accommodate various household types.
While the affordable housing inventory is relatively small compared to the neighborhood's estimated housing stock, it is important to note that other affordable housing programs may be present in the area. The demographic trends over the past decade, including rising median income and increasing racial diversity, suggest that the need for affordable housing options may continue to evolve in American River Canyon North.