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Salinas, California: LIHTC Program's Impact on Affordable Housing in Steinbeck's Birthplace
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Salinas, California, the birthplace of John Steinbeck, has a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city's LIHTC program has contributed 2,415 total units, with 2,120 designated as low-income units. Based on the 2022 population of 161,019 and using the national average household size, the estimated housing inventory in Salinas is approximately 61,693 units. The LIHTC-funded affordable housing units represent about 3.9% of this estimated housing stock.
Salinas has received $30,234,710 in project tax credits for affordable housing through the LIHTC program. With approximately 28 projects, this translates to an average of $1,079,811 in federal funding per project. Considering the total units, the average federal funding per unit is about $12,519. Salinas holds 0.98% of California's total LIHTC funding, indicating a substantial investment in affordable housing for a city of its size.
The LIHTC program has been active in Salinas for over 25 years, with the earliest project, Plaza Hotel, completed in 1994, and the most recent recorded project, Moon Gate Plaza, finished in 2019. The 1990s and 2010s were particularly active decades for affordable housing development in Salinas, with multiple projects completed in each.
The LIHTC-funded housing in Salinas offers a diverse range of unit types. The inventory includes 200 efficiencies, 732 one-bedroom units, 571 two-bedroom units, 407 three-bedroom units, and 84 four-bedroom units. This variety caters to different household sizes and needs within the low-income population.
Examining demographic trends over the last decade, Salinas has experienced a population increase from 155,649 in 2013 to 161,019 in 2022. The median income has also risen significantly, from $46,901 in 2013 to $80,560 in 2022. This substantial income growth might indicate changing economic conditions in the city.
Racial demographics have shown some shifts, with the Hispanic population increasing from 73% in 2013 to 80% in 2022, while the white population decreased from 18% to 12% over the same period. The Asian population has remained relatively stable, fluctuating between 3-7% during this time.
In summary, Salinas has maintained a consistent commitment to affordable housing through the LIHTC program over the past three decades. The city's inventory of affordable units, while representing a small percentage of the estimated total housing stock, provides a range of options for low-income residents. The demographic changes, particularly the rising median income and shifts in racial composition, may influence future affordable housing needs and development in the city.
