Loading Content...
El Centro's Affordable Housing: LIHTC Program Impact on a Hispanic-Majority City
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
El Centro, a city in California's Imperial Valley, has a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city has 502 total units in LIHTC-funded projects, including 408 designated low-income units. This inventory addresses affordable housing needs for El Centro's residents. Based on the city's 2022 population of 48,226 and an estimated 18,477 housing units, LIHTC-funded affordable housing covers approximately 2.7% of the city's estimated housing inventory.
El Centro has received $3,332,875 in project tax credits through the LIHTC program. With approximately 7 projects, this translates to an average of $476,125 in federal funding per project. When considering the total units, the average federal funding per unit is about $6,639. El Centro holds 0.11% of California's total LIHTC funding, indicating a modest share of the state's affordable housing resources.
The city's LIHTC-funded housing history spans from 1994 to 2012, demonstrating nearly two decades of affordable housing development. The first project, El Centro Family Housing, was completed in 1994, while the most recent, Las Brisas, was finished in 2012. The 2000s saw the most significant affordable housing development in El Centro, with five projects completed during this decade. Notable projects include El Centro Senior Villas (2002), Countryside Apts (2004), and Imperial Gardens Family Apts (2009).
The city's LIHTC-funded housing stock comprises a mix of unit types, with a predominance of one-bedroom units (285), followed by two-bedroom (84), three-bedroom (76), and four-bedroom (13) units. This distribution suggests a focus on accommodating smaller households and families.
Over the past decade, El Centro's population has remained relatively stable, with a slight decrease from 49,541 in 2019 to 48,226 in 2022. The median income has shown some fluctuation, rising from $53,322 in 2015 to $60,249 in 2021, before decreasing to $55,649 in 2022. The racial composition of El Centro has seen a gradual shift, with the Hispanic population increasing from 84% in 2015 to 88% in 2022. Concurrently, the white population decreased from 11% to 8% during the same period. The Asian and Black populations have remained relatively stable at around 1-2% each.
Despite no new LIHTC projects being built in the last decade, the demographic data suggests a continuing need for affordable housing. The slight decrease in median income in 2022, coupled with the stable population and increasing Hispanic representation, may indicate an ongoing demand for affordable housing options.
El Centro's LIHTC-funded affordable housing inventory represents a small but significant portion of the city's estimated housing stock. The city has leveraged federal funding to develop a diverse range of affordable housing units over nearly two decades. While no new LIHTC projects have been completed in recent years, demographic trends suggest a potential ongoing need for affordable housing options. The city's changing racial composition and fluctuating median income levels underscore the importance of continued attention to affordable housing needs in El Centro.
