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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Madera, a city in California, has a notable presence of affordable housing funded through the Low-Income Housing Tax Credit (LIHTC) program. The city's LIHTC-funded affordable housing inventory comprises 920 total units, with 732 designated as low-income units. Based on the 2022 population of 68,042 and an estimated housing inventory of 26,070 units, the LIHTC-funded affordable housing represents approximately 3.5% of the city's estimated housing stock.
Madera has received $5,499,801 in project tax credits for affordable housing through the LIHTC program. With 16 approximate projects, this translates to an average federal funding of $343,738 per project. The average federal funding per unit is approximately $5,978. Madera holds 0.18% of California's total LIHTC funding.
The city's involvement with LIHTC-funded affordable housing began in 1988 with the Clinton Avenue Apartments and continued through 2017 with The Village At Madera, spanning nearly three decades. The 1990s saw the most affordable housing projects completed, including developments like Madera Villa Apartments, Sunrise Terrace, and Valle De Las Brisas.
The LIHTC-funded housing in Madera offers a range of unit types. The inventory includes 147 one-bedroom units, 282 two-bedroom units, 222 three-bedroom units, and 43 four-bedroom units, catering to various family sizes and needs. One notable project is Cottonwood Creek, completed in 2001, which targets Special Needs populations. This project likely provides specialized amenities and services to support residents with specific requirements.
Over the past decade, Madera's population has grown steadily, increasing from 65,506 in 2017 to 68,042 in 2022. The median income has also seen a significant rise, increasing from $42,144 in 2017 to $67,454 in 2022. This substantial income increase may indicate a changing economic landscape in the city.
Racial distribution data from 2021 shows a predominantly Hispanic population (80%), followed by White (13%), with smaller percentages of Asian, Black, Native American, and multiracial residents. This diverse demographic makeup underscores the importance of inclusive affordable housing options.
Madera's LIHTC-funded affordable housing inventory represents a small but significant portion of the city's estimated housing stock. With 16 projects developed over nearly three decades, the city has consistently invested in affordable housing options. The diverse range of unit types and the presence of specialized housing for special needs populations demonstrate efforts to meet varied community needs. As the city continues to grow and evolve economically, ongoing attention to affordable housing will be crucial to maintain a balanced and inclusive community.