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Affordable Housing in Costa Mesa: LIHTC Impact on Urban Development
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Costa Mesa, a city in California, has implemented Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The city's LIHTC inventory consists of 306 total units, with 302 designated as low-income units. This affordable housing stock constitutes approximately 0.73% of the estimated 41,964 housing units in Costa Mesa, based on the 2022 population and national average household size.
Costa Mesa has received $1,996,539 in project tax credits for affordable housing through the LIHTC program. With approximately 2 projects, this equates to an average of $998,270 in federal funding per project. When divided by the total number of LIHTC-funded units, it amounts to about $6,525 in federal funding per unit. The city holds 0.06% of California's total LIHTC funding, indicating a relatively small but significant contribution to the state's affordable housing efforts.
The LIHTC-funded affordable housing in Costa Mesa spans from 2007 to 2014, with St Johns Manor being the first project completed in 2007 and Tower On 19Th being the most recent in 2014. This seven-year period marks the presence of LIHTC-funded affordable housing in the city. The 2010s saw the most affordable housing development in Costa Mesa, with both known projects completed during this decade.
The LIHTC inventory in Costa Mesa consists of 186 efficiencies, 103 one-bedroom units, and 17 two-bedroom units. This distribution suggests a focus on accommodating smaller households and individuals.
Over the last decade, Costa Mesa's population has remained relatively stable, with a slight decrease from 113,610 in 2018 to 109,527 in 2022. During this period, the median income has shown a significant increase from $80,502 in 2018 to $103,891 in 2022, indicating improving economic conditions for many residents.
The racial composition of Costa Mesa has remained relatively consistent, with a slight increase in the Asian population (from 10% to 11%) and a small decrease in the Hispanic population (from 36% to 34%) between 2018 and 2022. The White population has remained the largest group, consistently representing about half of the city's residents.
Costa Mesa's LIHTC-funded affordable housing inventory, while modest in size, plays a role in addressing the city's housing needs. The two projects completed between 2007 and 2014 have provided 306 units, primarily consisting of efficiencies and one-bedroom apartments. Despite the city's rising median income, the presence of these affordable units suggests ongoing efforts to maintain housing accessibility for lower-income residents. The stability in population and racial composition over the past decade indicates a relatively consistent demographic environment in which these housing projects operate.
