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Affordable Housing in Mt. Hope: LIHTC 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
Mt. Hope, a neighborhood in San Diego, California, contains 122 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. These units, all designated as low-income, represent approximately 5.2% of the estimated 2,328 total housing units in the neighborhood, based on the 2022 population of 6,077 and the national average household size.
The LIHTC program has invested $282,847 in tax credits for affordable housing projects in Mt. Hope, averaging about $2,319 per unit. The neighborhood's LIHTC funded housing stock comprises 109 two-bedroom units and 13 three-bedroom units, catering to families of varying sizes.
The Island Gardens Apartments, completed in 2000, is the sole LIHTC project in Mt. Hope. This development has provided affordable housing in the area for over two decades, demonstrating a sustained effort to address housing affordability in the neighborhood.
Mt. Hope has undergone demographic changes in the past decade. The population increased from 5,388 in 2020 to 6,077 in 2022. Median income rose from $38,999 in 2018 to $50,594 in 2022, indicating potential shifts in the neighborhood's economic landscape.
The racial distribution in Mt. Hope has also changed. The Hispanic population, which remains the majority, increased from 75% in 2020 to 80% in 2022. During the same period, the White population decreased from 15% to 11%, while the Black and Asian populations experienced minor declines. These demographic shifts may influence the ongoing demand for affordable housing in the area.
The LIHTC funded affordable housing in Mt. Hope, while significant, covers a relatively small portion of the estimated housing stock. The Island Gardens Apartments has been a key component of affordable housing in the neighborhood since 2000. Recent increases in population and median income, along with changes in racial demographics, suggest a dynamic community with potentially evolving affordable housing needs. Although the existing LIHTC project provides valuable affordable units, particularly for families requiring two and three-bedroom apartments, the neighborhood's changing demographics may necessitate ongoing evaluation of affordable housing requirements.
