LIHTC Funding Shapes Affordable Housing Landscape in Alum Rock-East Foothills
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
DATA SOURCE
Alum Rock-East Foothills, a neighborhood in San Jose, California, has 626 units in Low-Income Housing Tax Credit (LIHTC) funded projects, with 590 designated as low-income units. Based on the 2022 population of 44,886 and using the national average household size of 2.61, the neighborhood has an estimated 17,198 housing units. LIHTC-funded affordable units represent approximately 3.6% of this estimated housing inventory.
The LIHTC program has invested $5,121,328 in tax credits in Alum Rock-East Foothills, averaging about $8,181 per unit in LIHTC-funded projects. Affordable housing development in the neighborhood spans from 2002 to 2017, with the earliest project being Monte Vista Gardens Senior Housing and the most recent being Monte Vista Gardens Family Apartments.
The early 2000s saw significant affordable housing development in Alum Rock-East Foothills. In 2003, four projects were completed: Monte Vista Gardens Senior Housing II, Rose Gardens, Terramina Square Family Apts, and Gadberry Courts. LIHTC-funded projects in the neighborhood offer a range of unit types, including 394 one-bedroom units, 136 two-bedroom units, and 96 three-bedroom units.
Alum Rock-East Foothills has experienced demographic changes over the past decade. The population has remained relatively stable with minor fluctuations. The median income has increased from $77,001 in 2013 to $98,849 in 2022, indicating changing economic conditions in the area.
The neighborhood's racial composition has shown slight changes. The Hispanic population decreased from 51% in 2013 to 48% in 2022, while the Asian population increased from 32% to 36% during the same period. The white population gradually decreased from 12% to 9%.
The most recent LIHTC project was completed in 2017, coinciding with a period of rising median income. This suggests a continued need for affordable housing options despite overall income growth in the neighborhood.
Alum Rock-East Foothills has benefited from consistent LIHTC investment in affordable housing. The LIHTC-funded projects provide a significant number of affordable units, particularly one-bedroom apartments, addressing diverse household needs. These units represent a modest portion of the estimated housing inventory but play a crucial role in the neighborhood's housing ecosystem. The area's changing demographics and increasing median income, combined with continued affordable housing development, underscore the ongoing importance of maintaining and potentially expanding affordable housing options to ensure a balanced and inclusive community.
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