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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Laguna Beach, a coastal city in California, has a specific affordable housing profile. The city's Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory comprises 27 total units, with 26 designated as low-income units. This represents approximately 0.28% of the city's estimated 9,799 housing units.
Laguna Beach has received $252,664 in project tax credits for affordable housing through the LIHTC program. This funding translates to an average of $252,664 per project and $9,358 per unit. The city holds 0.01% of the total state LIHTC funding.
The Glenneyre Apartments, completed in 2004, is the city's LIHTC-funded affordable housing project. This development has provided affordable housing options in Laguna Beach for nearly two decades. The project consists of 27 efficiency units, addressing the needs of individuals who may prefer compact living spaces.
Laguna Beach's population has remained relatively stable over the past decade, fluctuating between 25,000 and 26,000 residents. The median income has increased from $130,026 in 2013 to $142,147 in 2022. This rise in median income may indicate an increasing need for affordable housing options for lower-income residents.
Racial demographics in Laguna Beach have remained relatively consistent, with the white population comprising the majority (approximately 80-83%). There has been a slight increase in diversity, with small growth in Asian, Hispanic, and multi-racial populations. This gradual shift in demographics may suggest a need for diverse housing options to accommodate various cultural preferences and family sizes.
Laguna Beach's LIHTC-funded affordable housing inventory provides essential housing options for low-income residents. The Glenneyre Apartments, with its 27 efficiency units, addresses a specific housing need in the community. The small percentage of LIHTC-funded affordable housing suggests there may be additional affordable housing needs not met by this program alone. The city's evolving demographics may also indicate a growing demand for diverse and affordable housing options to maintain a balanced community.