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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Palm Desert, a city in California's Coachella Valley, has contributed to affordable housing through the Low-Income Housing Tax Credit (LIHTC) program. The city's LIHTC-funded affordable housing inventory comprises 163 total units, with 162 designated as low-income units. Based on the estimated housing inventory of 18,859 units, LIHTC-funded affordable housing represents approximately 0.86% of the city's housing stock.
Palm Desert has received $1,780,858 in project tax credits through the LIHTC program. With one project, this translates to an average federal funding of $1,780,858 per project and $10,925 per unit. The city holds 0.06% of the total state LIHTC funding, indicating a small portion of California's overall affordable housing investment.
The LIHTC-funded affordable housing in Palm Desert dates back to 2003 when the Hovley Gardens project was completed. This project represents the beginning of LIHTC-funded affordable housing in the city, providing affordable units for nearly two decades.
The affordable housing inventory in Palm Desert consists of a mix of unit types, with 72 two-bedroom units, 73 three-bedroom units, and 18 four-bedroom units. This distribution suggests a focus on accommodating families of various sizes within the affordable housing framework.
Over the past decade, Palm Desert's population has increased from 47,106 in 2013 to 49,223 in 2022. The median income has risen from $63,349 in 2013 to $73,246 in 2022, indicating an overall improvement in economic conditions for residents.
Racial demographics have remained relatively stable, with the white population consistently representing about two-thirds of the city's residents. The Hispanic population has fluctuated between 22% and 25% over the past decade. There has been a small increase in the Asian and Black populations, each growing by about one percentage point since 2013.
Despite these demographic changes, there have been no new LIHTC projects in the last decade. This could be due to various factors, including the relatively stable population growth and increasing median income, which might suggest a reduced need for additional affordable housing units through this specific program.
Palm Desert's LIHTC-funded affordable housing inventory provides 162 low-income units to the community. The single project, Hovley Gardens, completed in 2003, represents a long-standing commitment to affordable housing in the city. The mix of unit sizes suggests an effort to accommodate diverse family needs. While demographic trends show moderate population growth and increasing median incomes over the past decade, the lack of new LIHTC projects during this period may indicate that other housing solutions or programs are being utilized to address affordable housing needs in Palm Desert.