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Covina's Affordable Housing: Two Decades of LIHTC Impact on Urban Development
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Covina, a California city, has 299 affordable housing units funded by the Low-Income Housing Tax Credit (LIHTC) program. These units, all designated as low-income, comprise approximately 1.36% of Covina's estimated 21,957 housing units, based on the 2022 population and national average household size.
Covina has received $1,052,316 in project tax credits through the LIHTC program. With two projects, this averages $526,158 in federal funding per project, or about $3,519 per unit. Covina holds 0.03% of California's total LIHTC funding allocation.
The city's LIHTC-funded affordable housing development occurred between 1998 and 2002, featuring two projects: Lark Ellen Village and Cienega Gardens Apartments. This indicates that affordable housing has been part of Covina's landscape for over two decades. The 1990s and early 2000s were particularly active for affordable housing development in the city.
Covina's LIHTC-funded housing inventory includes 140 one-bedroom units, 73 two-bedroom units, 29 three-bedroom units, and 5 four-bedroom units. This distribution accommodates various family sizes and needs within the affordable housing sector.
Covina's population increased from 54,886 in 2019 to 57,307 in 2022. The median income rose from $76,699 in 2019 to $78,580 in 2022, with a peak of $87,549 in 2021. These trends may indicate a growing need for affordable housing options to support the increasing population and potentially widening income disparities.
Racial demographics have shifted slightly. The Hispanic population grew from 59% in 2019 to 61% in 2022, while the White population decreased from 22% to 18%. The Asian population remained stable at 13%, and the Black population increased from 3% to 4%. These demographic changes could influence future affordable housing needs and development strategies.
Covina's LIHTC-funded affordable housing inventory, while modest, provides important low-income housing options. The city's two LIHTC projects, developed in the late 1990s and early 2000s, offer diverse unit sizes to accommodate various household needs. Recent population growth and shifting demographics suggest that continued attention to affordable housing development may be necessary to meet evolving community needs. The city's share of state LIHTC funding, though small, demonstrates a commitment to addressing affordable housing challenges within the community.
