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La Presa's LIHTC-Funded Affordable Housing: A Decade of 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
La Presa, a California city with a population of 45,705 in 2022, encompasses an area of 6.02 square miles. The city contains 468 units in Low-Income Housing Tax Credit (LIHTC) funded affordable housing projects, with 454 designated as low-income units. These LIHTC-funded projects represent approximately 2.67% of the city's estimated housing inventory of 17,511 units.
La Presa has received $2,147,984 in project tax credits through the LIHTC program. With approximately 5 projects, this amounts to an average of $429,597 in federal funding per project. The average federal funding per unit is $4,590, based on the total of 468 units in LIHTC-funded projects. La Presa accounts for 0.07% of California's total LIHTC funding, indicating a relatively small share of the state's affordable housing resources.
The first LIHTC project in La Presa was completed in 2000, with the most recent project finished in 2014. This 14-year span demonstrates a consistent presence of affordable housing development in the city. The 2000s saw the most affordable housing activity, with three projects completed during this decade: Jamacha Glen Apts, San Martin De Porres Apts, and Spring Valley Apts.
The LIHTC-funded housing inventory in La Presa consists of 16 efficiencies, 141 one-bedroom units, 213 two-bedroom units, 7 three-bedroom units, and 2 four-bedroom units. This distribution suggests a focus on smaller households, with two-bedroom units being the most common.
Over the past decade, La Presa's population has remained relatively stable, fluctuating between 43,000 and 46,000 residents. The median income has shown a general upward trend, increasing from $66,981 in 2013 to $77,815 in 2022. This rise in median income could potentially impact the need for affordable housing in the area.
Racial demographics have remained fairly consistent, with Hispanic residents comprising the largest group at around 45-47% of the population. There has been a slight increase in the Black population (from 11% to 13%) and a small decrease in the Asian population (from 14% to 11%) over the past decade. The White population has remained stable at around 23-24%.
The most recent LIHTC project, Peppertree Senior Apartments, was completed in 2014. Since then, there have been no new LIHTC developments, which could be attributed to the rising median income and relatively stable population demographics.
La Presa's LIHTC-funded affordable housing inventory covers a small portion of the city's estimated housing stock. The city has seen consistent development of affordable housing projects from 2000 to 2014, with a focus on smaller units. While the population has remained stable, the rising median income over the past decade may have influenced the lack of new LIHTC projects since 2014. The racial demographics have shown minor shifts, but overall remain diverse, with Hispanic residents forming the largest group.
