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Affordable Housing in San Tomas: LIHTC Impact on a Changing 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
San Tomas, a neighborhood in Campbell, California, features a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area contains 179 affordable units, with 178 classified as low-income. Based on the 2022 population of 13,807 and the national average household size of 2.61, the estimated housing units in San Tomas number approximately 5,290. LIHTC-funded affordable housing comprises about 3.4% of the estimated housing inventory in the neighborhood.
The LIHTC program has made substantial investments in San Tomas, with project tax credits totaling $1,924,740. This equates to an average federal funding of $10,752 per unit. Affordable housing development in the neighborhood has occurred consistently over time, with projects spanning from 1992 to 2015. The earliest project, Sharmon Palms, was completed in 1992, while the most recent, San Tomas Gardens, was finished in 2015, indicating a 23-year span of affordable housing development.
The 2010s witnessed the most significant affordable housing development in San Tomas, with two projects completed during this decade: Sharmon Palms Lane in 2014 and San Tomas Gardens in 2015. These projects substantially expanded the affordable housing inventory in the area. The affordable housing stock in San Tomas includes a variety of unit types: 7 one-bedroom units, 104 two-bedroom units, 10 three-bedroom units, and 12 four-bedroom units. This diverse range of unit sizes suggests an effort to accommodate various household sizes and needs within the low-income population.
San Tomas has experienced demographic shifts over the past decade that may correlate with its affordable housing development. The population has remained relatively stable, increasing slightly from 13,435 in 2010 to 13,807 in 2022. The median income has grown significantly, rising from $120,951 in 2013 to $135,578 in 2022, indicating an overall increase in neighborhood affluence.
Racial demographics in San Tomas have also changed during this period. The Asian population has increased substantially, from 21% in 2013 to 36% in 2022, while the white population has decreased from 56% to 44%. The Hispanic population has remained relatively stable, decreasing slightly from 16% to 14%. These changes suggest a diversifying neighborhood, which may influence future affordable housing needs.
The completion of two LIHTC projects in 2014 and 2015 aligns with a period of population growth and increasing median income in the neighborhood. This could indicate a proactive approach to maintaining economic diversity in the face of rising living costs.
San Tomas demonstrates a consistent commitment to affordable housing through its LIHTC-funded projects. The neighborhood's 179 affordable units represent about 3.4% of its estimated housing inventory. The area has seen steady development of affordable housing over more than two decades, with the most significant additions occurring in the mid-2010s. The diverse mix of unit sizes suggests an effort to accommodate various low-income household needs. While the neighborhood has experienced rising incomes and changing racial demographics over the past decade, the completion of LIHTC projects during this period indicates an ongoing effort to maintain affordable housing options in an increasingly affluent area.
