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Affordable Housing in Saticoy: LIHTC Funded Projects and Demographic Shifts
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CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Saticoy, a neighborhood in San Buenaventura (Ventura), California, has a presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory comprises 88 total units, with 86 designated as low-income units. Based on the 2022 population of 10,439 and the national average household size of 2.61, the estimated housing inventory for Saticoy is approximately 4,000 units. The LIHTC funded affordable housing represents about 2.2% of the neighborhood's estimated housing stock.
The LIHTC program has invested in Saticoy, with project tax credits totaling $1,391,099. This equates to an average federal funding of approximately $15,808 per unit in LIHTC funded projects. The neighborhood has experienced consistent development of affordable housing over time, with projects completed in 2005, 2015, and 2019. The first LIHTC project, Chapel Lane Senior Apts, was built in 2005, while the most recent, Snapdragon Place Apartments Phase II, was completed in 2019, indicating a 14-year span of affordable housing development in the area.
The 2010s saw the most activity in affordable housing development, with two projects completed during this decade: Snapdragon Place Apts Phase 1 in 2015 and Snapdragon Place Apartments Phase II in 2019. The LIHTC funded housing in Saticoy offers a range of unit types. Out of the 88 total units, there are 38 one-bedroom units, 23 two-bedroom units, and 9 three-bedroom units. This distribution indicates accommodation for various household sizes, from individuals to small families.
Over the past decade, Saticoy has experienced demographic shifts. The population has remained relatively stable, with a slight increase from 10,031 in 2014 to 10,439 in 2022. During this period, the median income has fluctuated, rising from $77,945 in 2014 to $84,651 in 2022, with a peak of $90,717 in 2021.
Racial demographics have also changed. The Hispanic population has grown from 35% in 2014 to 50% in 2022, while the white population has decreased from 54% to 36% during the same period. The Asian population has increased from 5% to 7%.
The completion of two LIHTC projects in 2015 and 2019 coincides with these demographic shifts, potentially responding to changing housing needs in the community.
Saticoy's LIHTC funded affordable housing inventory represents an effort to provide affordable options in the neighborhood. The development of these projects over a 14-year span demonstrates a commitment to addressing affordable housing needs. The diverse unit types offered cater to various household sizes, reflecting an attempt to meet different community needs. The demographic changes observed over the past decade, including population stability, income fluctuations, and shifting racial composition, provide context for the continuing development of affordable housing in the area.
