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Affordable Housing in Nestor: A Two-Decade LIHTC Investment
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Nestor, a neighborhood in San Diego, California, has a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The area contains 775 total units in LIHTC-funded projects, with 767 of these designated as low-income units. Based on the 2022 population of 15,710 and using the national average household size of 2.61, there are approximately 6,019 housing units in the neighborhood. The LIHTC-funded affordable housing comprises about 12.9% of the estimated housing inventory, approaching the target percentage for a well-balanced community.
The LIHTC program has invested substantially in Nestor, with project tax credits totaling $5,490,876. This equates to an average federal funding of approximately $7,085 per unit in LIHTC-funded projects. Affordable housing has been a long-term focus in Nestor, with projects spanning over two decades. The first LIHTC project, Lancaster Manor Apartments, was completed in 1999, while the most recent, Playa Del Sol Family Apartments, was finished in 2019. This 20-year span demonstrates a sustained commitment to affordable housing in the area.
The 2000s experienced the most LIHTC activity, with four projects completed during this decade. Notable projects from this period include Mesa Family Apartments (2002), Tesoro Grove Apartments (2003), and Creekside Trails (2006). The neighborhood's LIHTC-funded housing stock includes a mix of unit sizes, with 70 one-bedroom, 76 two-bedroom, and 191 three-bedroom units. This diversity caters to various household sizes and needs within the low-income population.
Over the past decade, Nestor's population has remained relatively stable, with slight fluctuations. The median income has shown an overall upward trend, increasing from $54,746 in 2017 to $59,235 in 2022. This rise in median income could potentially impact the demand for affordable housing.
Racial demographics have remained fairly consistent, with the Hispanic population consistently representing the majority at around 75-79% of the neighborhood's residents. The Asian and White populations have seen slight decreases, while other racial groups have remained relatively stable.
The most recent LIHTC project, Playa Del Sol Family Apartments, was completed in 2019, indicating a continued need for affordable housing despite the slight increase in median income. This suggests that income growth may not have been evenly distributed across all segments of the population.
Nestor's LIHTC-funded affordable housing inventory represents a significant portion of the neighborhood's estimated housing stock, approaching the target for a well-balanced community. The consistent development of LIHTC projects over two decades demonstrates a sustained commitment to affordable housing. The mix of unit sizes caters to diverse household needs within the low-income population. While median income has increased slightly in recent years, the completion of a new LIHTC project in 2019 suggests an ongoing demand for affordable housing options in this predominantly Hispanic neighborhood.
