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Affordable Housing in Santa Barbara's Lower East: LIHTC's Impact on Neighborhood Composition
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The Lower East neighborhood of Santa Barbara, California, exhibits a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory comprises 96 total units, with 94 designated as low-income units. Given the estimated 575 housing units in the area, LIHTC funded affordable housing represents approximately 16.7% of the neighborhood's housing inventory, approaching the target percentage for a balanced community.
The LIHTC program has made substantial investments in this neighborhood, with project tax credits totaling $2,013,702. This equates to an average federal funding of $20,976 per unit. The neighborhood has benefited from LIHTC funding for over a decade, with the first project, Artisan Court Apts, completed in 2011, and the most recent, Jardin De Las Rosas, finished in 2018.
The LIHTC funded housing in Lower East offers a range of unit types. There are 55 efficiencies, 5 one-bedroom units, 23 two-bedroom units, and 13 three-bedroom units. This variety accommodates different household sizes and needs within the low-income population.
Over the past decade, the Lower East neighborhood has experienced fluctuations in population and median income. The population has remained relatively stable, ranging from about 1,300 to 1,600 residents. Median income has shown variability, with recent years indicating an upward trend, reaching $77,723 in 2022.
Racial demographics show that the Hispanic population has been the majority, consistently representing over 60% of the neighborhood's residents. The white population has decreased from about 30% to 20% over the past decade, while other racial groups have maintained relatively stable proportions.
The completion of the Jardin De Las Rosas project in 2018 coincides with a period of increasing median income and a slight shift in racial demographics. This suggests that the LIHTC program has continued to provide affordable housing options even as the neighborhood's economic profile has evolved.
The Lower East neighborhood of Santa Barbara demonstrates a commitment to affordable housing through its LIHTC funded projects. With 16.7% of the estimated housing inventory dedicated to affordable units, the neighborhood approaches the target for a balanced community. The diversity of unit types and the federal investment reflect efforts to address various housing needs. The demographic trends, including a stable population and changing income levels, underscore the importance of maintaining affordable housing options in this evolving neighborhood.
