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Affordable Housing in Pacifica: LIHTC's Role in Coastal California
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Pacifica, a coastal city in California, has implemented the Low-Income Housing Tax Credit (LIHTC) program to support its affordable housing initiatives. The city's LIHTC-funded affordable housing inventory comprises 212 total units, with 203 designated as low-income units. This represents approximately 1.45% of Pacifica's estimated 14,583 housing units.
The LIHTC program has provided Pacifica with $1,407,007 in project tax credits. With three approximate projects, this amounts to an average of $469,002 per project. The average federal funding per unit is $6,637, based on the total units in LIHTC-funded projects. Pacifica's share of California's total LIHTC funding is 0.05%, indicating a relatively small portion of the state's affordable housing resources.
Pacifica's LIHTC-funded affordable housing development spans from 1988 to 2016, covering nearly three decades. The most recent development occurred in the 2010s, with the completion of Ocean View Senior Apartments in 2016. This project added 99 units to the city's affordable housing inventory, all of which are designated as low-income units.
The LIHTC-funded housing in Pacifica primarily consists of unspecified unit types. The data explicitly mentions only one one-bedroom unit, five two-bedroom units, and five three-bedroom units.
Pacifica's population has remained relatively stable over the past decade, with a slight increase from 37,898 in 2013 to 38,061 in 2022. The median income has shown significant growth, rising from $110,553 in 2013 to $126,276 in 2022. This increase in median income may suggest a reduced need for additional affordable housing in recent years.
The racial composition of Pacifica has remained fairly consistent between 2013 and 2022. There has been a slight increase in the Asian population (from 19% to 21%) and a minor decrease in the White population (from 54% to 51%). The Hispanic population has remained steady at around 18-19% during this period.
Pacifica's LIHTC-funded affordable housing inventory, while modest in size, has been developed over nearly three decades. The city's 212 LIHTC units, with 203 designated as low-income, represent a small but significant portion of the housing market. The most recent development in 2016 added a substantial number of units, primarily targeting seniors. Despite rising median incomes, the stable population and diverse racial composition suggest a continued need for affordable housing options in Pacifica.
