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Affordable Housing in Southside Park: LIHTC 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
Southside Park, a neighborhood in Sacramento, California, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood hosts 116 total units in LIHTC funded projects, with 115 of these designated as low-income units. Based on the 2022 population of 1,776 and using the national average household size, approximately 680 housing units are estimated in the neighborhood. The LIHTC funded affordable housing covers about 17% of the estimated housing inventory, aligning with the target percentage for a balanced community.
The LIHTC program has invested $1,845,362 in tax credits for affordable housing in Southside Park. This translates to an average federal funding of approximately $15,908 per unit. The neighborhood's LIHTC funded project, Capitol Lofts, was completed in 2014, indicating a relatively recent addition to the affordable housing stock.
Capitol Lofts offers a diverse mix of unit types, with 74 efficiencies, 9 one-bedroom units, 7 two-bedroom units, and 26 three-bedroom units. This variety caters to different household sizes and needs within the low-income population.
Over the past decade, Southside Park has experienced demographic shifts. The population has fluctuated, with an increase from 1,389 in 2019 to 1,776 in 2022. Median income has risen from $54,766 in 2018 to $55,563 in 2022, suggesting a slight improvement in economic conditions.
Racial demographics have shown trends. The proportion of Asian residents decreased from 35% in 2018 to 21% in 2022, while the Black population increased from 6% to 11% during the same period. The Hispanic population has remained relatively stable at around 22%. The White population has maintained a significant presence, accounting for 38% of the neighborhood in 2022.
These demographic changes, particularly the increase in population and slight rise in median income, may have influenced the need for affordable housing in the area. The completion of Capitol Lofts in 2014 appears to have been a response to the growing and diverse population in Southside Park.
Southside Park's LIHTC funded affordable housing inventory plays a crucial role in meeting the neighborhood's housing needs. With 115 low-income units, it provides housing options for approximately 17% of the estimated housing inventory, aligning with recommended targets for balanced communities. The diverse unit mix in Capitol Lofts caters to various household sizes. The neighborhood has experienced demographic changes over the past decade, including population growth and shifts in racial composition, which may have influenced the demand for affordable housing. The LIHTC investment of nearly $1.85 million demonstrates a commitment to maintaining affordable housing options in this evolving Sacramento neighborhood.
