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Affordable Housing in Columbia: LIHTC's Impact on a California City
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Columbia, a city in California, has implemented Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The LIHTC inventory in Columbia consists of 80 total units, with 79 designated as low-income units. This allocation demonstrates the city's commitment to providing affordable housing options.
The LIHTC funded affordable housing represents approximately 7.9% of Columbia's estimated housing inventory of 1,011 units. While this percentage is below typical affordable housing targets, it is important to note that other programs may contribute to the overall affordable housing stock in the city.
Columbia has received $774,271 in project tax credits from the LIHTC program. With one approximate project, this translates to an average federal funding of $774,271 per project and $9,678 per unit. The city holds 0.03% of the total state LIHTC funding, indicating a relatively small portion of California's overall allocation.
The Columbia Village Townhomes, completed in 1998, is the sole LIHTC funded project in Columbia. This project has provided affordable housing options for over two decades. The development offers a range of unit sizes, including 24 two-bedroom units, 48 three-bedroom units, and 8 four-bedroom units, accommodating families of various sizes.
Columbia's population has fluctuated over the past decade, with 2,639 residents recorded in 2022. The median income has varied, ranging from $36,340 in 2019 to $57,139 in 2016, with a recent figure of $44,563 in 2022. The city has maintained a predominantly white population, consistently above 80% throughout the last decade, with small but growing percentages of Asian, Hispanic, and multi-racial residents.
The stable presence of the LIHTC project, despite demographic fluctuations, indicates an ongoing need for affordable housing in Columbia. The variations in median income over the years underscore the importance of maintaining affordable housing options for lower-income residents.
Columbia's LIHTC funded affordable housing, while representing a small portion of the city's estimated housing stock, provides a significant number of low-income units. The Columbia Village Townhomes project has been a longstanding source of affordable housing in the community. The diverse unit sizes within this project cater to various household compositions. Demographic trends show some fluctuations in population and income levels, yet the consistent presence of this LIHTC project highlights its importance in meeting the community's affordable housing needs.
