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Affordable Housing in Van Nuys: LIHTC Projects and Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Van Nuys, a neighborhood in Los Angeles, California, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood has 941 total units in LIHTC funded projects, with 909 designated as low-income units. Based on the 2022 population of 107,675 and an estimated 41,255 housing units, LIHTC funded affordable housing comprises approximately 2.3% of the neighborhood's estimated housing inventory.
The LIHTC program has invested $8,207,493 in Van Nuys, averaging about $8,722 per unit in federal funding. Affordable housing development spans 18 years, from the first recorded LIHTC project in 1996 to the most recent in 2014. The 2010s saw the most significant development activity, with seven projects completed during this decade.
Van Nuys offers diverse affordable housing options, including 150 efficiencies, 467 one-bedroom units, 158 two-bedroom units, 67 three-bedroom units, and 55 four-bedroom units. Some LIHTC projects target specific populations, such as individuals with special needs or mental illness, addressing diverse housing needs within the community.
Over the past decade, Van Nuys experienced slight population fluctuations, increasing from 106,103 in 2013 to 107,675 in 2022. The median income rose from $41,645 in 2013 to $52,458 in 2022, indicating improving economic conditions for residents. The racial composition remained relatively stable, with a predominant Hispanic population (64% in 2022) and a significant White population (21% in 2022). Asian and Black populations maintained consistent percentages at 7% and 5% respectively in 2022.
Despite rising median income, several LIHTC projects were completed in 2014, suggesting a continued need for affordable housing even as overall economic conditions improved. Van Nuys demonstrates a consistent commitment to affordable housing through its LIHTC funded projects, offering diverse unit types and catering to various household sizes and specific populations.
While LIHTC funded units represent a small percentage of the estimated housing inventory, they play a crucial role in providing affordable options in an area with rising median incomes. The steady development of LIHTC projects, particularly in the 2010s, reflects ongoing efforts to address affordable housing needs in this diverse Los Angeles neighborhood.
