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Affordable Housing Analysis in Corona Zip Code 92882: LIHTC-Funded Units and Demographic Shifts
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 92882 in Corona contains a notable Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. This area has 441 total units, with 383 designated as low-income units. The population of this zip code reached 69,573 residents in 2022. Based on an estimated 26,656 housing units in the zip code, LIHTC-funded affordable housing comprises approximately 1.65% of the total housing stock.
The LIHTC projects in zip code 92882 have received $3,774,862 in tax credits, averaging about $8,560 per unit. This represents 0.12% of California's total LIHTC funding, indicating a modest investment in affordable housing for this area. Affordable housing has been present in this community for nearly two decades, with the first LIHTC project, Corona De Oro Apts, completed in 2000, and the most recent, Corona Community Villas, finished in 2019. The 2000s saw the most affordable housing development, with three projects completed during this decade.
The LIHTC-funded housing in zip code 92882 offers a range of unit types, including 18 efficiencies, 74 one-bedroom, 137 two-bedroom, 48 three-bedroom, and 12 four-bedroom units. This variety accommodates different household sizes and needs within the community.
Over the past decade, zip code 92882 has experienced population growth, with the number of residents increasing from 66,422 in 2010 to 69,573 in 2022. Median income has also risen, from $83,017 in 2013 to $92,942 in 2022, suggesting an improvement in economic conditions.
The racial composition of zip code 92882 has shifted slightly. The Hispanic population increased from 46% in 2013 to 51% in 2022, while the White population decreased from 38% to 31% during the same period. The Asian and Black populations have remained relatively stable at around 9% and 4-5% respectively.
Despite the rising median income, the completion of Corona Community Villas in 2019 indicates a continued need for affordable housing in zip code 92882, possibly due to increasing housing costs or to serve specific segments of the population.
Zip code 92882 in Corona has a modest but significant LIHTC-funded affordable housing inventory, covering about 1.65% of the estimated housing stock. The area has seen consistent investment in affordable housing over two decades, with projects catering to various household sizes. While the median income has increased and the population has grown, the continued development of affordable housing suggests an ongoing need to ensure housing accessibility for all income levels in this diverse and evolving community.
