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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Clarkdale, a neighborhood in Culver City, California, possesses a limited Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The neighborhood contains one LIHTC project, Tilden Terrace, which provides 33 affordable housing units, including 2 designated as low-income units. Based on an estimated 1,492 housing units in the neighborhood, derived from the 2022 population of 3,894, LIHTC-funded affordable housing comprises approximately 2.21% of the neighborhood's housing inventory.
The LIHTC program has invested $700,020 in tax credits for affordable housing in Clarkdale. This equates to an average federal funding of $21,213 per unit in the LIHTC-funded project. Tilden Terrace, completed in 2013, represents the sole LIHTC project in the neighborhood, marking the inception of LIHTC-funded affordable housing in Clarkdale.
The project offers a variety of unit types, consisting of 2 one-bedroom units, 19 two-bedroom units, and 12 three-bedroom units. This distribution indicates an emphasis on accommodating families and households of various sizes within the affordable housing development.
Over the past decade, Clarkdale has experienced demographic changes. The population has remained relatively stable, fluctuating between 3,300 and 3,900 residents. Median income has demonstrated an overall upward trend, increasing from $60,350 in 2019 to $80,467 in 2022, potentially indicating improving economic conditions for some residents.
Racial demographics have also evolved. The Asian population has grown substantially, from 13% in 2013 to 31% in 2022. The Hispanic population has decreased from 42% to 29% during the same period. The White population has also declined from 41% to 28%. These shifts suggest a changing neighborhood composition, which may influence future affordable housing needs.
The completion of Tilden Terrace in 2013 coincided with a period of relative demographic stability in the neighborhood. However, the subsequent years have seen more pronounced changes in income levels and racial composition, which could impact the demand for affordable housing in the future.
Clarkdale's LIHTC-funded affordable housing inventory, though limited, provides an important resource for the neighborhood. The single project, Tilden Terrace, contributes 33 units to the area's housing stock, with a mix of unit sizes to accommodate different household needs. The neighborhood has experienced notable demographic shifts over the past decade, including rising median incomes and changes in racial composition. These trends may influence future affordable housing needs and development in Clarkdale. Ongoing monitoring of demographic changes and housing affordability will be essential for ensuring that the neighborhood's housing stock remains responsive to the evolving needs of its residents.