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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Sylmar, a neighborhood in Los Angeles, California, has a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The area has 446 total units in LIHTC funded projects, with 241 of these specifically designated as low-income units. Based on the 2022 population of 90,523 and using the national average household size, the estimated housing inventory for Sylmar is approximately 34,683 units. The LIHTC funded affordable housing covers about 1.29% of the estimated housing inventory in the neighborhood.
The LIHTC projects in Sylmar have received $3,077,611 in project tax credits. This translates to an average federal funding of about $6,901 per unit in LIHTC funded projects.
Affordable housing has been a part of Sylmar's landscape for over two decades. The first LIHTC project, Astoria Place Townhomes, was completed in 1997, while the most recent projects, Foothill Terrace and Seven Palms Apts, were both completed in 2013. This 16-year span demonstrates a consistent effort to provide affordable housing in the neighborhood.
The 2010s saw the most affordable housing development activity, with three projects completed during this decade: Oakridge Family Homes (2012), Foothill Terrace (2013), and Seven Palms Apts (2013).
The LIHTC funded projects in Sylmar offer a diverse range of housing options. Out of the 446 total units, there are 24 efficiencies, 105 one-bedroom units, 159 two-bedroom units, 45 three-bedroom units, and 6 four-bedroom units. This distribution suggests a focus on accommodating various family sizes, with a particular emphasis on one and two-bedroom apartments.
Over the past decade, Sylmar's population has remained relatively stable, with a slight increase from 87,357 in 2013 to 90,523 in 2022. The median income has shown a significant increase, rising from $68,079 in 2013 to $78,352 in 2022. This 15% increase in median income could potentially indicate a growing need for affordable housing options to maintain economic diversity in the neighborhood.
The racial composition of Sylmar has remained largely consistent over the past decade, with a predominant Hispanic population (around 80%). There has been a slight increase in the Asian population, from 4% in 2013 to 7% in 2022, while the White population has decreased slightly from 12% to 10%. This demographic stability suggests that the LIHTC projects have been serving a consistent community profile.
Sylmar's LIHTC funded affordable housing inventory, while modest in relation to the estimated total housing stock, represents a consistent effort to provide affordable options in the neighborhood. The projects span over 16 years of development, with the most recent activity occurring in the early 2010s. The diverse unit types cater to various household sizes, reflecting the needs of the community. While the neighborhood has seen economic growth in terms of median income, the stable population and racial composition suggest that these LIHTC projects continue to play a crucial role in maintaining housing affordability and diversity in Sylmar.