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Affordable Housing in River Gardens: LIHTC's Impact on Sacramento 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
River Gardens, a neighborhood in Sacramento, California, demonstrates a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area contains 124 affordable housing units, all designated as low-income units. Based on the 2022 population of 1,359 and using the national average household size, the estimated housing units in the neighborhood total approximately 521. The LIHTC funded affordable housing comprises about 23.8% of the estimated housing inventory, exceeding the typical target of 15-20% for affordable housing stock.
The LIHTC program has invested $747,395 in tax credits for affordable housing in River Gardens. This equates to an average federal funding of approximately $6,027 per unit. The neighborhood's affordable housing inventory is represented by a single project, River Garden Estates, completed in 1998. This project has provided affordable housing options in the area for over two decades.
River Garden Estates offers a range of unit sizes, focusing on larger family accommodations. The project includes 6 two-bedroom units, 33 three-bedroom units, and 65 four-bedroom units. This distribution indicates an emphasis on housing for families, particularly those with multiple children.
River Gardens has experienced demographic fluctuations over the past decade. The population has remained relatively stable, with minor variations year to year. Median income has shown an overall upward trend, increasing from $39,917 in 2019 to $58,988 in 2022, potentially indicating improving economic conditions for residents.
Racial distribution in the neighborhood has also changed. The Hispanic population has remained relatively constant, comprising about 35% of residents in recent years. The White population has increased slightly, from 33% in 2019 to 39% in 2022. The Black population has decreased, from 23% in 2019 to 15% in 2022. The Asian population has remained relatively small but stable, at around 7% in recent years.
These demographic shifts, particularly the increase in median income, may suggest changing housing needs in the neighborhood. However, the continued presence of a significant Hispanic population and the mix of other racial groups indicates an ongoing need for diverse and affordable housing options.
River Gardens demonstrates a commitment to affordable housing through its LIHTC-funded project, River Garden Estates. This development provides a substantial portion of the neighborhood's estimated housing inventory, exceeding typical affordable housing targets. The project's focus on larger units caters to families, aligning with the neighborhood's demographic composition. While the area has seen economic improvements and demographic shifts over the past decade, the continued presence of diverse populations underscores the ongoing importance of maintaining affordable housing options in River Gardens.
