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Affordable Housing in La Costa Oaks: LIHTC's Impact on a Changing Neighborhood
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
La Costa Oaks, a neighborhood in Carlsbad, California, has a presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory consists of 168 total units, with 166 designated as low-income units. Based on the 2022 population of 17,190 and using the national average household size of 2.61, there are approximately 6,586 housing units in the neighborhood. The LIHTC funded affordable housing covers about 2.55% of the estimated housing inventory in La Costa Oaks.
The LIHTC program has invested in La Costa Oaks, with project tax credits totaling $1,859,638. This translates to an average federal funding of $11,069 per unit in LIHTC funded projects. The neighborhood's affordable housing is comprised of a single project, Hunters Pointe, completed in 2007. This project has been providing housing options for low-income residents for over 15 years.
Hunters Pointe offers a mix of unit types, with 36 one-bedroom units, 6 two-bedroom units, and 72 three-bedroom units. This distribution suggests a focus on accommodating families and individuals with varying space needs. The absence of efficiency units and four-bedroom units indicates a targeted approach to meeting specific housing demands in the area.
Over the past decade, La Costa Oaks has experienced demographic shifts. The population has grown from 15,449 in 2015 to 17,190 in 2022. The median income has risen from $131,235 in 2015 to $159,385 in 2022, suggesting an increase in affluence within the neighborhood.
Racial demographics have evolved. The white population has decreased from 78% in 2015 to 69% in 2022, while the Hispanic population has increased from 10% to 17% during the same period. The Asian population has remained relatively stable at around 7-8%, while other racial groups have seen minimal changes.
Despite demographic shifts and rising median income, the presence of LIHTC funded housing suggests an ongoing need for affordable options in La Costa Oaks. The stable presence of this housing since 2007 indicates a long-term commitment to maintaining economic diversity within the neighborhood.
La Costa Oaks presents a case of a relatively affluent neighborhood that has integrated LIHTC funded affordable housing into its community. While the 168 units represent a small percentage of the estimated housing inventory, they play a role in providing affordable options in an area with a high median income. The demographic trends, including population growth and increasing diversity, underscore the importance of maintaining affordable housing options to ensure a balanced community.
