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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The Olive Drive neighborhood in Davis, California, contains a significant number of Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. The neighborhood has 77 affordable units, with 76 designated as low-income. Based on the 2022 population of 1,296 and an estimated 497 housing units, LIHTC-funded affordable housing comprises approximately 15.5% of the neighborhood's estimated housing inventory.
The LIHTC program has invested $483,206 in tax credits in Olive Drive, averaging $6,275 in federal funding per unit. Affordable housing has been present in the area since 1987, with the most recent project, Cesar Chavez Plaza, completed in 2007. This indicates a 20-year span of affordable housing development in the neighborhood.
The affordable housing inventory in Olive Drive offers a variety of unit types, with the majority being one-bedroom (52 units) and two-bedroom (25 units) units. This distribution suggests a focus on accommodating smaller households and individuals. Notably, Cesar Chavez Plaza targets individuals with special needs, demonstrating a commitment to addressing unique housing requirements within the community.
Over the past decade, Olive Drive has experienced population fluctuations with a general upward trend. The median income has increased significantly, rising from $21,740 in 2017 to $37,410 in 2022, potentially indicating changing economic conditions in the neighborhood.
Racial demographics in Olive Drive have shifted. The Hispanic population has grown from 14% in 2017 to 35% in 2022, while the Black population has decreased from 18% to 1% during the same period. The White population has increased from 39% to 53%, becoming the majority demographic group. Despite these demographic changes, no new LIHTC projects have been constructed in the last decade.
Olive Drive's affordable housing landscape, shaped by LIHTC investments, provides a significant portion of the neighborhood's estimated housing inventory. The area has benefited from long-term affordable housing presence, with projects catering to diverse needs, including special populations. While demographic shifts have occurred, including increases in median income and changes in racial composition, the existing affordable housing stock continues to play a crucial role in the neighborhood's housing ecosystem. The absence of recent LIHTC projects may warrant further investigation into current affordable housing needs and funding allocation strategies in the area.