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Atascadero's LIHTC-Funded Affordable Housing: A Focus on One-Bedroom Units
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Atascadero, a city in California, has a population of 33,113 as of 2022. The city's Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory consists of 114 total units, with 112 of these designated as low-income units. Based on the estimated housing inventory of 12,687 units, the LIHTC funded affordable housing covers approximately 0.9% of the city's housing stock.
Atascadero has received $938,785 in project tax credits from the LIHTC program. With two approximate projects, this averages to $469,393 per project. The average federal funding per unit is $8,235. Atascadero holds 0.03% of California's total LIHTC funding.
The city's LIHTC funded affordable housing spans from 2007 to 2012, indicating a relatively short period of LIHTC development. The first project, Atascadero Senior Apts, was completed in 2007, while the most recent project, California Manor Apts, was finished in 2012. The 2010s saw the most affordable housing projects completed in Atascadero.
The affordable housing units in Atascadero are primarily one-bedroom units (106), with a small number of two-bedroom units (8). There are no efficiencies, three-bedroom, or four-bedroom units reported in the LIHTC funded projects. One notable project, California Manor Apts, targets the "At-Risk" population, which may require specialized services or support to maintain stable housing.
Over the past decade, Atascadero's population has grown slightly from 31,613 in 2012 to 33,113 in 2022. The median income has also increased from $78,147 in 2013 to $86,472 in 2022. In terms of racial distribution, the city has seen a decrease in the white population (from 80% in 2013 to 72% in 2022) and an increase in the Hispanic population (from 15% in 2013 to 21% in 2022).
Despite these demographic changes, there have been no new LIHTC projects in the last decade. This could be due to various factors, including changes in funding priorities, local housing policies, or shifts in the housing market.
Atascadero's LIHTC funded affordable housing inventory provides 114 units of affordable housing, primarily consisting of one-bedroom units. The city received nearly $1 million in tax credits for these projects, which were developed between 2007 and 2012. While the population and median income have grown over the past decade, and there have been shifts in racial demographics, no new LIHTC projects have been developed in recent years. This analysis provides a snapshot of Atascadero's LIHTC funded affordable housing landscape and its relationship to the city's changing demographics.
