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Affordable Housing in McPherson: LIHTC Project Amidst Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
McPherson, a neighborhood in Napa, California, exhibits a notable presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area contains 140 units in LIHTC funded projects, with 128 designated as low-income units. Based on the 2022 population of 2,596 and an estimated 995 housing units, LIHTC funded affordable housing comprises approximately 14.1% of the neighborhood's estimated housing inventory.
The LIHTC program has invested $2,299,029 in tax credits for affordable housing projects in McPherson. This equates to an average federal funding of about $16,422 per unit. The neighborhood features one LIHTC project, Napa Park Homes, completed in 2019. This project marks the introduction of LIHTC-funded affordable housing in the area.
Napa Park Homes offers a variety of unit types, including 32 one-bedroom, 52 two-bedroom, and 56 three-bedroom units. This distribution accommodates various household sizes and needs within the community.
McPherson has experienced significant demographic changes over the past decade. The population decreased from 5,418 in 2013 to 2,596 in 2022. Despite this decline, the median income has shown an overall upward trend, increasing from $73,120 in 2013 to $89,707 in 2022.
The racial composition of the neighborhood has also shifted. The Hispanic population decreased from 67% in 2013 to 38% in 2022. Conversely, the white population increased from 31% to 55% during the same period. The Asian population has remained relatively stable, ranging between 4-6% in recent years.
The introduction of the LIHTC project in 2019 coincides with these demographic shifts, potentially addressing changing housing needs in the community as its composition evolved.
McPherson's affordable housing landscape is characterized by a single LIHTC project, Napa Park Homes, which provides a significant contribution to the neighborhood's housing stock. The project's diverse unit mix caters to various household sizes. While the neighborhood has experienced demographic changes, including population decline and shifts in racial composition, the LIHTC project appears to play a role in maintaining housing affordability amidst rising median incomes. The presence of LIHTC-funded housing aligns with the target of having 15-20% of housing stock as affordable, potentially contributing to a more balanced community.
