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Affordable Housing in Gardena: LIHTC Funding and Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Gardena, a city in California, has implemented a Low-Income Housing Tax Credit (LIHTC) funded affordable housing project. The city has one LIHTC-funded project providing 89 affordable housing units, all of which are designated as low-income units. Based on the 2022 population of 60,377 and an estimated 23,133 housing units, the LIHTC-funded affordable housing comprises approximately 0.38% of the city's estimated housing inventory.
The LIHTC program has contributed $1,884,099 in tax credits to Gardena's affordable housing efforts. This single project translates to an average federal funding of $1,884,099 per project and $21,169 per unit. Gardena's LIHTC funding represents 0.06% of California's total state LIHTC allocation.
The LIHTC-funded project in Gardena, Sage Park, was completed in 2014. This project has been providing affordable housing options to the community for nearly a decade. The unit distribution in Sage Park includes 29 one-bedroom units, 31 two-bedroom units, and 3 three-bedroom units, catering to various household sizes within the low-income population.
Over the past decade, Gardena's population has increased from 59,224 in 2013 to 60,377 in 2022. The median income has risen from $57,265 in 2013 to $65,038 in 2022, indicating a gradual improvement in the economic conditions of the city's residents.
Racial demographics in Gardena have shown some changes. The Hispanic population has increased from 36% in 2013 to 43% in 2022, while the Black population has decreased from 23% to 19% during the same period. The Asian population has remained consistent at around 25%. These demographic changes may influence the future needs for affordable housing in the city.
Gardena's LIHTC-funded affordable housing, while limited to one project, provides a contribution to the city's low-income housing inventory. The Sage Park development, completed in 2014, offers 89 units exclusively for low-income residents. This represents 0.38% of the city's estimated housing stock. The city's changing demographics and rising median income suggest an environment that may require ongoing assessment of affordable housing needs. The LIHTC program's investment in Gardena demonstrates a commitment to providing affordable housing options for its low-income residents.
