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Affordable Housing in Palm Springs: Three Decades of LIHTC Development
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Palm Springs, a desert resort city in California, has a significant inventory of affordable housing funded through the Low-Income Housing Tax Credit (LIHTC) program. The city has 739 total units in LIHTC-funded projects, with 719 of these designated as low-income units. Based on the estimated housing inventory of 18,747 units, the LIHTC-funded affordable housing covers approximately 3.94% of the city's housing stock.
Palm Springs has received $4,023,940 in project tax credits from the LIHTC program. With approximately 10 projects, this translates to an average of $402,394 in federal funding per project, or $5,445 per unit. The city holds 0.13% of California's total LIHTC funding, indicating a relatively small but notable share of the state's affordable housing resources.
The first LIHTC project in Palm Springs, Palm Springs View Apartments, was completed in 1990, while the most recent project with a known completion date is Rancheria Del Sol Apartments, finished in 2014. This spans 24 years of affordable housing development in the city. The 2000s saw the most activity, with five projects completed during that decade, including Coyote Run Apartments II and Vista Sunrise Apartments in 2006.
The LIHTC-funded housing in Palm Springs offers a diverse range of unit types. Of the 739 total units, there are 61 efficiencies, 201 one-bedroom units, 168 two-bedroom units, 74 three-bedroom units, and 13 four-bedroom units. This distribution caters to various household sizes and needs within the low-income population.
One notable project is Vista Sunrise Apartments, completed in 2006, which targets the special needs population. This project likely provides specialized amenities and services to support residents with particular requirements.
Over the past decade, Palm Springs' population has remained relatively stable, with a slight increase from 48,099 in 2014 to 48,930 in 2022. The median income has shown a more significant upward trend, rising from $50,051 in 2014 to $59,862 in 2022, which could indicate a growing need for affordable housing options.
The racial composition of Palm Springs has remained fairly consistent, with a slight increase in diversity. The white population decreased marginally from 60% in 2014 to 59% in 2022, while the Hispanic population remained stable at around 26-28%. There has been a small increase in the Black population, from 4% to 6%, and the Asian population has held steady at 5%.
Palm Springs has a modest but significant LIHTC-funded affordable housing inventory, covering nearly 4% of its estimated housing stock. The city has seen consistent development of affordable housing over more than two decades, with a focus on diverse unit types to accommodate various household sizes. The recent trends in population stability, increasing median income, and slight shifts in racial composition suggest an ongoing need for affordable housing options in the city. The presence of specialized projects like Vista Sunrise Apartments demonstrates efforts to address specific community needs within the affordable housing framework.
