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Affordable Housing in Rio Bravo: LIHTC Impact on a Growing Neighborhood
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Rio Bravo, a neighborhood in Bakersfield, California, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 236 total units, with 234 designated as low-income units. Based on the 2022 population of 21,955 and the national average household size of 2.61, the estimated housing units in the neighborhood are approximately 8,412. The LIHTC funded affordable housing represents about 2.8% of the estimated housing inventory in Rio Bravo.
The LIHTC program has invested $854,288 in tax credits for affordable housing projects in Rio Bravo, averaging approximately $3,620 per unit in federal funding. The neighborhood has had LIHTC funded affordable housing since at least 2000, with the completion of Canyon Hills Senior Housing. The most recent project, Auburn Heights Apartments, was completed in 2015, indicating at least 15 years of affordable housing presence in the area.
The 2010s saw significant affordable housing development in Rio Bravo, with the completion of Auburn Heights Apartments in 2015. This project added 158 units to the neighborhood's affordable housing inventory, including 56 two-bedroom units, 64 three-bedroom units, and 4 four-bedroom units. In total, the LIHTC funded projects in Rio Bravo offer 58 one-bedroom units, 72 two-bedroom units, 64 three-bedroom units, and 4 four-bedroom units, accommodating various household sizes.
Rio Bravo's population increased from 17,036 in 2013 to 21,955 in 2022. The median income remained relatively stable, fluctuating between $71,532 in 2013 and $73,797 in 2022. This suggests a consistent need for affordable housing options despite the area's overall economic stability.
The racial composition of Rio Bravo has changed. The Hispanic population increased from 49% in 2013 to 58% in 2022, while the White population decreased from 42% to 29% during the same period. This demographic shift may indicate changing housing needs within the community.
Rio Bravo's LIHTC funded affordable housing inventory represents a small but significant portion of the neighborhood's estimated housing stock. The area has seen consistent investment in affordable housing over at least 15 years, with projects catering to various household sizes. While the LIHTC funded units cover only about 2.8% of the estimated housing inventory, they play a crucial role in providing affordable options in a neighborhood that has experienced substantial population growth and demographic changes over the past decade. The stable median income alongside population growth suggests an ongoing need for affordable housing solutions in Rio Bravo.
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