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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Cathedral City, located in California's Coachella Valley, possesses a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city has 958 total units in LIHTC-funded projects, with 820 designated as low-income units. Based on the 2022 population of 50,131 and an estimated 19,207 housing units, the LIHTC-funded affordable housing comprises approximately 5% of the city's estimated housing inventory.
Cathedral City has received $4,220,608 in project tax credits through the LIHTC program. With approximately 7 projects, this translates to an average of $602,944 in federal funding per project, or $4,406 per unit. The city holds 0.14% of California's total LIHTC funding, indicating a modest but notable contribution to the state's affordable housing efforts.
The first LIHTC project in Cathedral City, Park David Senior Apts, was completed in 2000, while the most recent, Mountain View Apartments, was finished in 2017. This 17-year span demonstrates a sustained commitment to affordable housing development in the city. The 2010s saw the most activity, with three projects completed in 2011 and 2017.
The LIHTC-funded housing stock in Cathedral City includes a diverse range of unit types. The inventory comprises 191 one-bedroom units, 286 two-bedroom units, 129 three-bedroom units, and 6 four-bedroom units. This distribution suggests a focus on accommodating various household sizes, with a particular emphasis on smaller families or individuals.
Over the past decade, Cathedral City's population has shown fluctuations, peaking at 53,550 in 2019 before declining to 50,131 in 2022. Despite these changes, the median income has generally trended upward, rising from $50,641 in 2013 to $54,801 in 2022, with a notable peak of $62,537 in 2021. This overall increase in median income might suggest a growing need for affordable housing options to support lower-income residents.
The racial composition of Cathedral City has remained relatively stable, with Hispanic residents consistently comprising the majority (around 59-60% of the population). The White population has slightly decreased from 32% to 30%, while the Asian population has seen a small increase from 4% to 6%. This diversity underscores the importance of providing affordable housing options that cater to a multicultural community.
Cathedral City's LIHTC-funded affordable housing inventory represents a significant effort to address low-income housing needs, covering approximately 5% of the estimated housing stock. The city has maintained a consistent approach to affordable housing development over nearly two decades, with a diverse range of unit types to accommodate various household sizes. While demographic trends show a generally increasing median income, the stable racial composition and recent population fluctuations suggest an ongoing need for affordable housing options to support the city's diverse community.