Loading Content...
Affordable Housing in Armada: LIHTC Impact on Moreno Valley Neighborhood
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The Armada neighborhood in Moreno Valley, California, exhibits a substantial presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory comprises 399 total units, with 395 designated as low-income units. This number of affordable housing units is significant in addressing the community's housing needs.
Based on an estimated 3,249 housing units in the neighborhood, derived from the 2022 population of 8,481 and the national average household size, LIHTC funded affordable housing represents approximately 12.3% of the neighborhood's housing inventory. This percentage approaches the target range of 15-20% for a well-balanced community, indicating that LIHTC projects contribute substantially to the affordable housing stock in Armada.
The LIHTC program has invested $2,340,890 in tax credits for affordable housing projects in the Armada neighborhood. This equates to an average of $5,867 in federal funding per unit, demonstrating a considerable commitment to creating affordable housing options in the area.
The neighborhood has experienced LIHTC project completions from 2010 to 2013, indicating a relatively recent focus on affordable housing development. The initial projects, Oakwood Apartments and Rancho Dorado Family Apartments II, were both completed in 2010. The most recent project, Rancho Dorado South, was finished in 2013. This three-year period represents a concentrated effort to increase affordable housing options in the neighborhood.
The LIHTC funded projects in Armada offer a range of unit types, with a total of 117 two-bedroom units, 142 three-bedroom units, and 68 four-bedroom units. This distribution suggests an emphasis on accommodating families of various sizes within the affordable housing inventory.
Over the past decade, the Armada neighborhood has experienced demographic shifts. The population has fluctuated, peaking at 9,379 residents in 2016 and settling at 8,481 in 2022. Median income has increased significantly, rising from $46,886 in 2013 to $68,981 in 2022, potentially indicating improving economic conditions for some residents.
Racial demographics have also changed, with the Hispanic population growing from 65% in 2013 to 75% in 2022. The white population has decreased from 16% to 6% during the same period. The Black population has remained relatively stable, ranging between 11-17% over the decade.
These demographic changes, particularly the rising median income, may have influenced the absence of new LIHTC projects since 2013. However, the existing affordable housing stock continues to serve a significant portion of the community.
The Armada neighborhood in Moreno Valley has a notable LIHTC funded affordable housing presence, with 399 units covering approximately 12.3% of the estimated housing inventory. The LIHTC program has invested over $2.3 million in the area, providing a range of unit types to accommodate diverse household sizes. While no new LIHTC projects have been completed since 2013, the existing affordable housing stock continues to play a crucial role in the community. The neighborhood has experienced demographic shifts, including rising median income and changes in racial composition, which may have influenced affordable housing development patterns in recent years.
