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Affordable Housing Analysis in Corona, California: Zip Code 92879's LIHTC-Funded Projects
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 92879 in Corona, California, contains a total of 105 units in Low-Income Housing Tax Credit (LIHTC) funded projects, with 86 designated as low-income units. This represents approximately 0.53% of the estimated 19,700 housing units in the zip code, based on the 2022 population of 51,417. The LIHTC projects in this zip code have received $2,030,159 in project tax credits, averaging about $19,335 in federal funding per unit. This zip code holds 0.07% of California's total LIHTC funding, indicating a small but notable contribution to the state's affordable housing efforts.
Affordable housing has been present in this zip code since at least 1999, with the completion of Vintage Terrace Senior Apartments. The most recent project, East 6th Street Family Apartments, was completed in 2020, spanning over two decades of affordable housing development in the area. The 2020s saw the most recent affordable housing development with the completion of East 6th Street Family Apartments. This project added 85 units to the area's affordable housing inventory, including 23 one-bedroom, 23 two-bedroom, and 39 three-bedroom units.
In total, the LIHTC-funded projects in this zip code offer a mix of unit types, including 39 one-bedroom, 27 two-bedroom, and 39 three-bedroom units. This distribution suggests a focus on accommodating various family sizes and living arrangements.
Over the last decade, zip code 92879 has experienced fluctuations in population, with an overall growth trend. The population increased from 49,383 in 2013 to 51,417 in 2022. Median income has also risen significantly, from $66,761 in 2013 to $76,788 in 2022, indicating improving economic conditions for residents.
The racial composition of the zip code has remained relatively stable, with a slight increase in the Hispanic population from 54% in 2013 to 58% in 2022. The white population decreased from 27% to 23% during the same period, while Asian and Black populations remained relatively constant at 11% and 6% respectively.
The completion of the East 6th Street Family Apartments in 2020 aligns with the period of population growth and increasing median income, suggesting a response to the growing need for affordable housing in an area with rising living costs.
Zip code 92879 in Corona, California, has a small but significant LIHTC-funded affordable housing inventory, covering about 0.53% of the estimated housing units. The area has seen two decades of affordable housing development, with the most recent project completed in 2020. The diversity of unit types suggests an effort to accommodate various household sizes. While the LIHTC-funded projects make up a small portion of the total housing stock, they represent an important contribution to affordable housing in an area that has experienced population growth and rising median incomes over the past decade.
