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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Del Rey, a neighborhood in Los Angeles, California, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood contains 168 total units in LIHTC funded projects, with 147 designated as low-income units. Based on the 2022 population of 34,080 and an estimated 13,057 housing units, LIHTC funded affordable housing comprises approximately 1.29% of the neighborhood's estimated housing inventory.
The LIHTC program has made substantial investments in Del Rey, with project tax credits totaling $2,140,839. This equates to an average federal funding of about $12,743 per unit in LIHTC funded projects. The neighborhood has experienced consistent development of affordable housing over time, with projects completed in 2013, 2015, and 2016. The 2010s marked the decade with the most affordable housing projects completed in Del Rey.
Del Rey Square Senior Housing, completed in 2013, represents the earliest known LIHTC project in the neighborhood. The most recent project, Gateway Apartments, was completed in 2016 and specifically targets physically, mentally, and developmentally disabled populations. This focus on specialized housing demonstrates an effort to address the diverse needs of vulnerable community members.
The LIHTC funded housing inventory in Del Rey predominantly consists of one-bedroom units, with 162 such units available. Additionally, there are 4 efficiency units and 2 two-bedroom units, indicating a focus on housing for smaller households or individuals.
Over the past decade, Del Rey has experienced some demographic shifts. The population has remained relatively stable, with a slight decrease from 34,104 in 2015 to 34,080 in 2022. Median income has shown an overall upward trend, rising from $82,793 in 2015 to $85,762 in 2022, with some fluctuations in between.
Racially, the neighborhood has seen a gradual increase in diversity. The white population decreased slightly from 38% in 2015 to 42% in 2022, while the Hispanic population decreased from 37% to 33%. The Asian population remained relatively stable at around 14-16%, and there was a small increase in residents identifying as two or more races, from 3% to 6%.
The development of LIHTC projects in the mid-2010s coincides with a period of relative demographic stability in Del Rey. This suggests that the affordable housing initiatives were responding to consistent community needs rather than dramatic demographic shifts.
Del Rey's LIHTC funded affordable housing inventory, while modest in scale, represents a targeted effort to address specific housing needs in the community. The focus on one-bedroom units and specialized housing for disabled residents indicates a tailored approach to local demographics. While the LIHTC projects cover a small percentage of the overall estimated housing inventory, they provide crucial support for low-income residents in an area with rising median incomes. The consistent development of these projects throughout the 2010s demonstrates an ongoing commitment to affordable housing in the neighborhood.