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Affordable Housing in Wagon Wheel: LIHTC Impact 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
The Wagon Wheel neighborhood in Mountain View, California, contains 56 total units in Low-Income Housing Tax Credit (LIHTC) funded projects, with 55 designated as low-income units. Based on the 2022 population of 2,503 and an estimated 959 housing units, LIHTC-funded affordable housing comprises approximately 5.8% of the neighborhood's housing stock.
The LIHTC program has invested $389,065 in tax credits for affordable housing in Wagon Wheel, averaging about $6,948 per unit. All LIHTC-funded affordable housing in the neighborhood is concentrated in a single project, Tyrella Gardens, completed in 2003. This project has provided affordable housing options for nearly two decades.
Tyrella Gardens offers a diverse mix of unit sizes, including 12 one-bedroom units, 32 two-bedroom units, and 12 three-bedroom units. This distribution indicates a focus on housing for small to medium-sized families, as well as individuals or couples.
Wagon Wheel has experienced significant demographic changes over the past decade. The population increased from 2,009 in 2013 to 2,503 in 2022, suggesting increased housing demand. Median income rose from $106,602 in 2013 to $128,233 in 2022, potentially affecting affordability for lower-income residents.
Racial demographics have also shifted considerably. The Asian population increased from 26% in 2013 to 45% in 2022, while the Hispanic population decreased from 31% to 10%. The White population declined from 40% to 31%. These changes may indicate evolving housing needs and preferences in the neighborhood.
No new LIHTC projects have been developed in Wagon Wheel since 2003. This could be attributed to factors such as land availability, zoning restrictions, or changes in local housing policies.
The Wagon Wheel neighborhood's affordable housing is characterized by a single LIHTC-funded project, Tyrella Gardens, which has been a stable presence since 2003. While this project provides a valuable affordable housing resource, it represents a relatively small portion of the neighborhood's estimated housing stock. The area has experienced significant demographic changes over the past decade, including population growth, rising incomes, and shifts in racial composition. These changes may have implications for future affordable housing needs in the neighborhood. Ongoing assessment of affordable housing requirements will be crucial to ensure a balanced and inclusive community as Wagon Wheel continues to evolve.
