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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Stanton, California, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The city's LIHTC inventory comprises 736 total affordable units, all designated as low-income units. Based on the 2022 population, the estimated housing inventory is 18,922 units, with LIHTC funded affordable housing representing approximately 3.89% of the city's housing stock.
Stanton has received $3,588,337 in project tax credits through the LIHTC program. With three projects, this equates to an average of $1,196,112 in federal funding per project. The average federal funding per unit is $4,875, considering the total of 736 units in LIHTC-funded projects. Stanton accounts for 0.12% of California's total LIHTC funding, indicating a small but notable contribution to the state's affordable housing efforts.
The LIHTC-funded affordable housing in Stanton spans from 1995 to 1998, representing a three-year period of development. The first project, Park Stanton Seniors Apartments, was built in 1995, while the most recent, Plaza Court, was completed in 1998. The 1990s were the decade with the most affordable housing projects completed in the city.
Stanton's LIHTC inventory includes various unit types. The distribution shows 44 efficiencies, 32 one-bedroom units, 309 two-bedroom units, and 23 three-bedroom units. This breakdown indicates an emphasis on accommodating different household sizes, with a focus on two-bedroom units.
Over the past decade, Stanton's population has remained relatively stable, ranging between 47,821 and 50,432 residents. The median income has increased significantly, rising from $53,414 in 2014 to $69,924 in 2022, representing a 30.9% increase. This rise in median income may suggest improving economic conditions for some residents.
Racial demographics have shown slight changes. The Hispanic population has increased from 48% in 2013 to 50% in 2022. The Asian population has grown from 27% to 30% during the same period. The white population has decreased from 21% to 15%. These shifts indicate a gradually diversifying population.
Although no new LIHTC projects have been recorded in the last decade, the demographic trends suggest a potential ongoing need for affordable housing support. The rising median income could potentially mask income inequality, and the stable population indicates a continuing housing demand.
Stanton's LIHTC-funded affordable housing inventory provides 736 low-income units across three projects, covering a small percentage of the city's estimated housing stock. The city received over $3.5 million in tax credits, averaging nearly $1.2 million per project. The affordable housing development was concentrated in the late 1990s, with a diverse mix of unit types to accommodate different household sizes. Despite the absence of new LIHTC projects in recent years, Stanton's changing demographics and increasing median income suggest an evolving landscape that may require continued attention to affordable housing needs.