Loading Content...
Monrovia's Affordable Housing Landscape: LIHTC Funding and Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Monrovia, California, has a population of 39,162 as of 2022. The city's Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory comprises 308 total units, with 305 designated as low-income units. This represents approximately 2.05% of the city's estimated housing stock of 15,005 units.
Monrovia has received $1,083,434 in project tax credits from the LIHTC program. With three projects, this translates to an average federal funding of $361,145 per project. The average federal funding per unit is $3,517, considering the total of 308 units in LIHTC funded projects. The city holds 0.04% of the total state LIHTC funding, indicating a relatively small share of California's affordable housing resources.
Affordable housing through LIHTC has been present in Monrovia since at least 2002, with the most recent project completed in 2016. The first project built was Heritage Park At Monrovia in 2002, and the last was Regency Court Apartments in 2016. The decade of the 2010s saw the most affordable housing projects completed, with two out of the three projects built during this time.
The LIHTC funded housing inventory in Monrovia consists primarily of one-bedroom units, with 283 in total. There are also 24 two-bedroom units and 1 efficiency unit. This distribution suggests a focus on housing for smaller households or individuals.
Over the last decade, Monrovia's population has remained relatively stable, with slight fluctuations. The median income has shown some variability but generally remained in the $85,000 to $95,000 range. Racial demographics have shifted somewhat, with the Hispanic population increasing from 41% in 2013 to 45% in 2022. The Asian population has also seen a slight increase from 12% to 15% during this period. Conversely, the white population has decreased from 38% to 29%. These demographic changes may influence the need for affordable housing in the city.
Monrovia's LIHTC funded affordable housing represents a small but significant portion of the city's housing stock. The city has consistently invested in affordable housing projects over the past two decades, with a focus on one-bedroom units. The changing demographics of the city, particularly the increase in Hispanic and Asian populations, may influence future affordable housing needs and development strategies.
