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Coolidge, Arizona: LIHTC Program's Impact on Affordable Housing Inventory
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Coolidge, Arizona, a city with agricultural roots named after former U.S. President Calvin Coolidge, has incorporated Low-Income Housing Tax Credit (LIHTC) funded affordable housing into its urban landscape. The city's LIHTC inventory comprises 175 total units, with 171 designated as low-income units. This represents approximately 2.5% of the city's estimated 6,992 housing units.
Coolidge has received $299,368 in project tax credits for affordable housing through the LIHTC program. With approximately 6 projects, this amounts to an average of $49,895 in federal funding per project. The average federal funding per unit is about $1,711. Coolidge's share of Arizona's total LIHTC funding is 0.15%, indicating a small but notable contribution to the state's affordable housing efforts.
The LIHTC program in Coolidge spans at least 15 years, with the earliest known project, Coolidge Station, completed in 1998, and the most recent identifiable project, Heritage Glen Retirement Apartments, finished in 2013. This timeline demonstrates a sustained commitment to affordable housing in the city.
The LIHTC-funded projects in Coolidge offer a range of unit types. The inventory includes 40 one-bedroom units, 61 two-bedroom units, 51 three-bedroom units, and 14 four-bedroom units. This distribution suggests an effort to accommodate various family sizes and living situations.
Coolidge has experienced modest population growth, increasing from 16,484 in 2015 to 18,250 in 2022. The median income has also risen, from $43,775 in 2015 to $58,030 in 2022, indicating improving economic conditions for residents. Racial demographics have shifted, with the Hispanic population increasing from 42% in 2015 to 50% in 2022, while the white population decreased from 46% to 36% during the same period. The Black population has remained relatively stable at around 5-6%.
Coolidge's LIHTC-funded affordable housing inventory, while modest in size, plays a significant role in providing housing options for low-income residents. The city's 175 LIHTC units, with a high proportion designated as low-income, demonstrate a focused effort to address affordable housing needs. The diversity in unit sizes reflects an attempt to cater to various household compositions. As Coolidge continues to grow and evolve demographically, ongoing attention to affordable housing needs will be important to maintain a balanced and inclusive community.
