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Affordable Housing in Gilbert, Arizona: LIHTC Program Impact on Rapidly Growing Suburb
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Gilbert, Arizona, a town in the Phoenix metropolitan area, has experienced rapid growth. The Low-Income Housing Tax Credit (LIHTC) program has funded 931 total units in Gilbert, with 805 designated as low-income units. Based on an estimated housing inventory of 105,502 units, LIHTC-funded affordable housing comprises approximately 0.88% of the city's housing stock.
Gilbert has received $686,020 in project tax credits through the LIHTC program. With approximately 4 projects, this equates to an average of $171,505 in federal funding per project, or $737 per unit. Gilbert holds 0.33% of Arizona's total LIHTC funding allocation.
The LIHTC program has supported affordable housing in Gilbert since at least 1989, with the completion of Vista Montana Apartments. The most recent known project, San Clemente Apartments, was completed in 2006, indicating at least 17 years of LIHTC presence in the city. The 2000s saw the most activity, with two projects (Page Commons and San Clemente Apartments) completed during this decade.
The LIHTC-funded housing stock in Gilbert consists primarily of two-bedroom units (476), followed by one-bedroom units (138), and a small number of three-bedroom units (9). This distribution suggests a focus on accommodating small families and individuals.
Over the past decade, Gilbert has experienced significant population growth, increasing from 237,120 in 2016 to 275,359 in 2022. Concurrently, the median income has risen substantially, from $91,576 in 2016 to $111,393 in 2022. This growth in population and income may indicate a changing housing market and potentially increased demand for affordable options.
Racial demographics have remained relatively stable, with a slight decrease in the white population (from 71% in 2016 to 64% in 2022) and small increases in Hispanic (16% to 19%) and Asian (5% to 7%) populations. This gradual diversification could impact future affordable housing needs.
Gilbert's LIHTC-funded affordable housing represents a small portion of its total housing stock. The town has seen consistent population growth and rising median incomes over the past decade, which may influence future affordable housing demands. While LIHTC project development appears to have slowed since 2006, the changing demographics and increasing population suggest a potential need for ongoing affordable housing initiatives to maintain a balanced community.
