Loading Content...
Affordable Housing in Galt, California: LIHTC Program Implementation and Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Galt, a city in California, has implemented the Low-Income Housing Tax Credit (LIHTC) program to support affordable housing. The city's LIHTC-funded affordable housing inventory comprises 327 total units, with 240 designated as low-income units. This represents approximately 3.1% of the city's estimated 10,547 housing units.
Galt has received $1,939,473 in project tax credits through the LIHTC program, distributed across five projects. This equates to an average of $387,895 in federal funding per project, or about $5,931 per unit. Galt's share of California's total LIHTC funding is 0.06%, indicating a relatively small portion of the state's affordable housing resources.
The city's involvement with LIHTC-funded affordable housing began in 1994 with the New Hope Senior Village and continued through 2011 with the completion of Galt Place Senior Apts. This 17-year span demonstrates a sustained commitment to affordable housing development. The 2000s saw the most activity in affordable housing construction, with four out of the five projects completed during this decade.
The LIHTC-funded projects in Galt offer a variety of unit types, including 106 one-bedroom units, 52 two-bedroom units, and 74 three-bedroom units. This distribution suggests an effort to accommodate various household sizes within the affordable housing stock.
Galt's population has shown moderate growth over the past decade, increasing from 25,653 in 2013 to 27,528 in 2022. During this period, the median income rose from $65,416 in 2013 to $79,171 in 2022, indicating improving economic conditions for many residents.
The racial composition of Galt has remained relatively stable, with a slight decrease in the white population (from 53% in 2013 to 46% in 2022) and a small increase in the Hispanic population (from 41% in 2013 to 43% in 2022). The Asian population has also seen a modest increase from 1% to 5% during this period.
No new LIHTC projects have been completed since 2011, which may be related to the rising median income and changing demographics. The increasing income levels might suggest a reduced need for additional affordable housing units in recent years.
Galt's LIHTC-funded affordable housing inventory represents a consistent effort to provide low-income housing options over nearly two decades. The city's demographic trends, particularly the rising median income, may have influenced the lack of new LIHTC projects in recent years. However, the existing affordable units continue to play a crucial role in meeting the housing needs of Galt's low-income residents, especially given the city's evolving racial diversity and economic landscape.
