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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Milpitas, a city in California, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 322 total units, with 266 designated as low-income units. This represents approximately 1.08% of the city's estimated housing stock of 29,787 units. The city has received $3,907,364 in project tax credits through the LIHTC program, distributed across three projects. This translates to an average federal funding of $1,302,455 per project or $12,135 per unit. Milpitas holds 0.13% of the total state LIHTC funding.
The LIHTC funded affordable housing in Milpitas spans a decade, from 1998 to 2008. The first project, Montevista Apts, was completed in 1998, while the most recent projects, Aspen Apts and Devries Place Senior Apts, were both completed in 2008. The 2000s saw the most affordable housing activity, with two out of three projects completed during this period.
The LIHTC funded housing inventory in Milpitas consists of a diverse mix of unit types: 1 efficiency unit, 127 one-bedroom units, 134 two-bedroom units, and 51 three-bedroom units. This distribution indicates accommodation for various household sizes, with a slight emphasis on one and two-bedroom units.
Milpitas has experienced significant demographic changes over the past decade. The population increased from 67,011 in 2010 to 77,744 in 2022, a growth of approximately 16%. Concurrently, the median income rose from $90,077 in 2013 to $169,818 in 2022, nearly doubling over this period.
The racial composition of Milpitas has also shifted. The Asian population has become increasingly dominant, growing from 62% in 2014 to 71% in 2021. The Hispanic population has remained relatively stable at around 13-15%, while the White population has decreased from 13% to 10%.
These demographic trends, particularly the substantial increase in median income, may explain the absence of new LIHTC projects in Milpitas since 2008. The rising income levels might indicate a reduced need for low-income housing in recent years.
Milpitas' LIHTC funded affordable housing inventory, while modest in size, provides a valuable resource for low-income residents. The program has contributed 322 units, with a significant portion dedicated to low-income households. The city's LIHTC projects span a decade, with the most recent developments completed in 2008. The lack of new LIHTC projects in recent years correlates with significant increases in population, median income, and a shift in racial demographics, particularly the growth of the Asian population. These demographic changes may have influenced the perceived need for additional affordable housing in the city.
