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Affordable Housing in South Mountain: Three Decades of LIHTC Development
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
South Mountain, a neighborhood in Phoenix, Arizona, has a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The area has 1,875 total units in LIHTC-funded projects, with 1,246 of these specifically designated as low-income units. Based on the 2022 population of 131,160 and an estimated 50,253 housing units, the LIHTC-funded affordable housing represents approximately 3.73% of the neighborhood's estimated housing stock.
The LIHTC program has invested $9,949,173 in tax credits for affordable housing projects in South Mountain. This translates to an average federal funding of $5,307 per unit across all LIHTC-funded projects in the neighborhood.
Affordable housing has been a part of South Mountain for over three decades. The first LIHTC project, Tierra Del Sol, was completed in 1988, while the most recent projects, Mirabella Senior Apartments and South Summit Estates, were finished in 2020. This demonstrates a long-term commitment to affordable housing in the area.
The 2000s saw the most significant development in affordable housing, with multiple projects completed throughout the decade. Notable projects from this period include Paradise Palms Senior Housing (2000), Sterling Point Apts Phase II (2001), and Vineyard Estates Apts (2002).
The LIHTC-funded housing inventory in South Mountain offers a diverse range of unit types. Of the 1,875 total units, there are 40 efficiencies, 750 one-bedroom units, 494 two-bedroom units, 236 three-bedroom units, and 32 four-bedroom units. This variety caters to different household sizes and needs within the low-income population.
Over the past decade, South Mountain has experienced population growth, with the population increasing from 113,681 in 2013 to 131,160 in 2022. During this period, the median income has also risen, from $47,053 in 2013 to $59,054 in 2022. This increase in median income might suggest a growing need for affordable housing options to ensure economic diversity in the neighborhood.
The racial composition of South Mountain has remained relatively stable over the past decade. The Hispanic population has consistently been the majority, comprising around 60-63% of the population. The Black population has remained steady at about 14-16%, while the White population has hovered around 17-18%. This demographic stability might indicate a continued need for affordable housing options to support the diverse community.
South Mountain's LIHTC-funded affordable housing inventory represents a small but significant portion of the neighborhood's estimated housing stock. The long-term presence of affordable housing projects, dating back to 1988, demonstrates an ongoing commitment to providing housing options for low-income residents. The diverse range of unit types available through LIHTC projects caters to various household sizes and needs. While the neighborhood has seen population growth and increased median income over the past decade, the stable racial composition suggests a continued need for affordable housing options to maintain community diversity and support long-term residents.
