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Affordable Housing in Wildomar, California: A Single LIHTC Project's Impact
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Wildomar, a city in California, has one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project, providing 176 units, with 175 designated as low-income units. Based on the city's 2022 population of 52,436 and an estimated 20,090 housing units, the LIHTC-funded affordable housing comprises approximately 0.88% of the city's estimated housing inventory.
The LIHTC program has contributed $373,789 in tax credits to Wildomar's affordable housing efforts. This equates to an average federal funding of $373,789 per project and $2,124 per unit. Wildomar's LIHTC funding represents 0.01% of California's total state funding for affordable housing.
The city's sole LIHTC-funded project, Wildomar Senior Leisure Living, was completed in 2000. This project has been providing affordable housing options in the city for over two decades. The development consists of 14 one-bedroom units and 35 two-bedroom units, catering to various household sizes within the low-income population.
Over the past decade, Wildomar has experienced steady population growth, increasing from 43,712 in 2013 to 52,436 in 2022. During this period, the median income has also risen, from $80,765 in 2013 to $90,719 in 2022, indicating an overall improvement in economic conditions.
The racial composition of Wildomar has shifted slightly, with the Hispanic population increasing from 31% in 2013 to 38% in 2022, while the white population decreased from 56% to 44% during the same period. The Asian and Black populations have remained relatively stable at around 6% and 5%, respectively.
Despite these demographic changes and population growth, no new LIHTC projects have been developed in Wildomar since 2000. This could be due to various factors, including changes in local housing policies, land availability, or shifts in funding priorities.
Wildomar's LIHTC-funded affordable housing inventory consists of a single project completed in 2000, providing 176 units primarily targeted towards seniors. While this project has been a long-standing contributor to the city's affordable housing stock, it represents a small percentage of the overall estimated housing inventory. The city has experienced population growth and increasing median incomes over the past decade, which may influence the demand for affordable housing. The racial composition has also shifted, with a growing Hispanic population. These demographic trends could inform future affordable housing initiatives in Wildomar, should the need arise for additional low-income housing options.
