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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Ridgecrest, California, has a population of 30,222 as of 2022. The city's Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory comprises 161 total units, with 87 designated as low-income units. This represents approximately 1.39% of the city's estimated housing stock of 11,579 units.
Ridgecrest has received $1,634,531 in project tax credits from the LIHTC program. With approximately 4 projects, this translates to an average federal funding of $408,633 per project. The average federal funding per unit is $10,152. Ridgecrest holds 0.05% of the total state funding for LIHTC projects in California.
The city's affordable housing projects span from 1989 to 2012, indicating a 23-year history of LIHTC-funded housing in Ridgecrest. The first project built was Ridgecrest Village Apts II in 1989, while the most recent was Ridgecrest Senior Apts in 2012. The 2000s saw the most affordable housing activity, with projects like Larkspur Village completed in 2008.
The LIHTC-funded housing in Ridgecrest includes a mix of unit types. There are 26 one-bedroom units, 39 two-bedroom units, and 48 three-bedroom units. This distribution suggests a focus on accommodating families of various sizes.
One notable project is the Ridgecrest Senior Apts, completed in 2012, which targets the "At-Risk" population. This project likely addresses the specific needs of vulnerable senior citizens in the community.
Over the past decade, Ridgecrest's population has remained relatively stable, with a slight increase from 28,858 in 2010 to 30,222 in 2022. The median income has shown an overall upward trend, rising from $68,101 in 2013 to $74,797 in 2022. This increase in median income might indicate a growing need for affordable housing options for lower-income residents.
The racial distribution in Ridgecrest has remained fairly consistent over the past decade. The white population has slightly decreased from 68% in 2013 to 66% in 2022, while the Hispanic population has increased from 17% to 21% during the same period. This shift in demographics could potentially influence future affordable housing needs and planning.
Ridgecrest's LIHTC-funded affordable housing inventory represents a small but significant portion of the city's housing stock. The city has received over $1.6 million in tax credits, supporting four projects that provide 161 units, including 87 low-income units. The affordable housing projects span over two decades, with the most recent focusing on at-risk senior populations. While the population has remained relatively stable, the increasing median income and slight shifts in racial demographics may influence future affordable housing needs in Ridgecrest.