Loading Content...
Affordable Housing in Arroyo Grande: Two Decades of LIHTC Development
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Arroyo Grande, a city in California, has a history of affordable housing initiatives. The city's Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory consists of 208 total units, with 205 designated as low-income units. Based on the estimated housing inventory of 7,562 units, the LIHTC-funded affordable housing represents approximately 2.75% of the city's housing stock.
Arroyo Grande has received $2,519,032 in project tax credits for affordable housing through the LIHTC program. With six projects, this translates to an average federal funding of $419,839 per project and $12,111 per unit. The city holds 0.08% of the total state LIHTC funding, indicating a modest contribution to California's affordable housing efforts.
The city's involvement with LIHTC-funded affordable housing began in 1996 with the Cawelti Court project and continued through 2020 with the completion of the Halcyon Collective. This 24-year span demonstrates a sustained commitment to affordable housing development. The 1990s saw the most activity, with three projects completed during this decade.
The LIHTC-funded housing stock in Arroyo Grande includes a range of unit types. There are 96 one-bedroom units, 55 two-bedroom units, and 27 three-bedroom units, catering to various household sizes and needs.
Over the past decade, Arroyo Grande's population has grown steadily, increasing from 18,853 in 2013 to 19,737 in 2022. This 4.7% population growth may have contributed to the continued need for affordable housing, as evidenced by the completion of two LIHTC projects during this period (Courtland Street Apts in 2014 and Halcyon Collective in 2020).
The city's median income has fluctuated but showed an overall upward trend, rising from $79,804 in 2013 to $90,056 in 2022. Despite this increase, the continued development of affordable housing suggests a persistent need for low-income options.
Racial demographics in Arroyo Grande have remained relatively stable, with a slight decrease in the white population (from 77% in 2013 to 71% in 2022) and small increases in Hispanic (14% to 17%) and multi-racial (2% to 6%) populations. This gradual diversification may have influenced the ongoing demand for affordable housing options.
Arroyo Grande's LIHTC-funded affordable housing inventory represents a consistent effort to address low-income housing needs. The city's 208 affordable units, developed over a 24-year period, demonstrate a long-term commitment to housing diversity. The recent completion of projects, coupled with population growth and demographic shifts, suggests an ongoing need for affordable housing options in this California city. As Arroyo Grande continues to evolve, monitoring these trends will be crucial for future housing policy decisions.
