Loading Content...
Affordable Housing in La Puente: LIHTC Program Impact 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
La Puente, a city in California, has a total of 199 units in Low-Income Housing Tax Credit (LIHTC) funded projects, with 143 of these designated as low-income units. This represents approximately 1.38% of the city's estimated housing inventory of 14,393 units. The city has received $2,219,342 in project tax credits through the LIHTC program, with an average of $1,109,671 in federal funding per project and $11,153 per unit. La Puente's share of California's total LIHTC funding is 0.07%.
The development of LIHTC-funded affordable housing in La Puente spans nearly two decades, from 2001 to 2018. The first project, La Puente Park Apts, was completed in 2001, while the most recent, La Villa Puente Apartments, was finished in 2018. The 2010s saw the most recent affordable housing development activity.
La Puente's LIHTC-funded housing stock includes a variety of unit types. The inventory comprises 24 one-bedroom units, 94 two-bedroom units, 73 three-bedroom units, and 8 four-bedroom units. There are no efficiency units in the LIHTC-funded projects.
La Puente has experienced a gradual population decline over the past decade, from 40,044 in 2014 to 37,566 in 2022. Despite this decline, the median income has shown an upward trend, increasing from $61,621 in 2014 to $71,252 in 2022. The racial composition of the city has remained relatively stable, with a slight decrease in the Hispanic population from 86% in 2014 to 81% in 2022, and a small increase in the Asian population from 9% to 13% during the same period.
The completion of La Villa Puente Apartments in 2018 coincides with the period of rising median income, potentially indicating a response to changing economic conditions in the city.
La Puente's LIHTC-funded affordable housing inventory, while modest in scale, has developed over nearly two decades. The city's two projects provide a range of unit types, focusing primarily on two- and three-bedroom units. Despite a declining population, rising median incomes and subtle shifts in racial demographics have occurred alongside recent affordable housing development. The LIHTC program has contributed to La Puente's efforts to provide affordable housing options, although it represents a small portion of the city's overall housing stock.
