Loading Content...
Affordable Housing Analysis in Clayton's 94517 Zip Code: Examining LIHTC-Funded Project Impact
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The zip code 94517 in Clayton, California, exhibits a distinct profile of affordable housing funded by the Low-Income Housing Tax Credit (LIHTC) program. This area contains 66 total units in LIHTC-funded projects, with 64 classified as low-income units. Given the estimated housing inventory of 4,822 units for the zip code, LIHTC-funded affordable housing constitutes approximately 1.37% of the total housing stock.
The LIHTC program has allocated $517,377 in tax credits for affordable housing projects in this zip code. This equates to an average federal funding of $7,839 per unit. The zip code's LIHTC funding accounts for 0.02% of California's total LIHTC allocation, indicating a relatively minor portion of the state's affordable housing investment.
Diamond Terrace Apartments, completed in 2002, is the sole LIHTC-funded project in this zip code. This development has provided affordable housing options in the area for over two decades. The project consists of 52 one-bedroom units and 14 two-bedroom units, accommodating various household sizes within the low-income community.
The zip code has experienced demographic fluctuations over the past decade. The population reached a peak of 13,776 in 2019 before declining to 12,585 in 2022. Median income has also varied, attaining a high of $164,502 in 2018 and settling at $151,205 in 2022. These changes may influence the demand for affordable housing in the area.
The racial composition of the zip code has undergone shifts over the last decade. The white population has decreased from 79% in 2013 to 66% in 2022, while the Asian population has increased from 7% to 12% during the same period. The Hispanic population has remained relatively stable, ranging between 9% and 12%. These demographic changes could potentially impact the need for diverse affordable housing options.
The 94517 zip code area possesses a modest LIHTC-funded affordable housing inventory, with one project providing 66 units, primarily consisting of one and two-bedroom apartments. While this represents a small percentage of the estimated housing stock, it has maintained a consistent presence in the community for over 20 years. The area has experienced demographic shifts and income fluctuations in recent years, which may influence future affordable housing needs. Ongoing monitoring of these trends will be essential in assessing and addressing the area's evolving affordable housing requirements.
