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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Baristo, a neighborhood in Palm Springs, California, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood contains 76 units in LIHTC funded projects, with 75 designated as low-income units. Based on the 2022 population of 2,995 and an estimated 1,148 housing units, LIHTC funded affordable housing comprises approximately 6.6% of the neighborhood's estimated housing inventory.
The LIHTC program has provided $386,371 in tax credits for affordable housing in Baristo, averaging about $5,084 per unit. The neighborhood's LIHTC funded affordable housing inventory consists of one project, Rancheria Del Sol Apartments, completed in 2014. This project marks the introduction of LIHTC funded affordable housing in Baristo.
Rancheria Del Sol Apartments offers a diverse mix of unit types, including 12 one-bedroom units, 52 two-bedroom units, and 12 three-bedroom units. This distribution indicates a focus on accommodating various household sizes, with an emphasis on families requiring two-bedroom apartments.
Baristo has experienced demographic shifts over the past decade. The population increased from 2,540 in 2013 to 2,995 in 2022, a growth of about 18%. During this period, the median income rose from $28,543 in 2013 to $46,462 in 2022, representing a 63% increase.
The racial composition of the neighborhood has also changed. The Hispanic population decreased from 43% in 2013 to 34% in 2022, while the White population increased slightly from 42% to 46%. The Asian population increased from 4% to 6%, and the Black population rose from 8% to 11%.
The completion of the Rancheria Del Sol Apartments in 2014 coincides with the beginning of these demographic shifts. The introduction of affordable housing may have contributed to the neighborhood's population growth and diversity, while potentially supporting the overall increase in median income by providing stable housing for low-income residents.
Baristo's LIHTC funded affordable housing, represented by the Rancheria Del Sol Apartments, provides 76 units of affordable housing in the neighborhood. This covers about 6.6% of the estimated housing inventory and contributes to the neighborhood's housing diversity. The project's mix of unit sizes accommodates various household needs. The introduction of this affordable housing in 2014 aligns with a period of population growth, income increase, and shifts in racial composition, suggesting a potential positive impact on the neighborhood's overall development and diversity.