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Affordable Housing Analysis in San Diego's 92108 Zip Code: LIHTC Funding 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 92108 in San Diego, California, contains a notable Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. This area encompasses 225 total units in LIHTC-funded projects, with 224 designated as low-income units. Based on the 2022 population of 24,879 and the national average household size, an estimated 9,532 housing units exist in this zip code. LIHTC-funded affordable housing constitutes approximately 2.36% of the estimated housing inventory in this area.
The LIHTC projects in zip code 92108 have received $3,272,535 in tax credits, averaging $14,544 per unit in federal funding. This represents 0.11% of California's total LIHTC funding, indicating a modest yet significant investment in affordable housing for this specific area.
Affordable housing has been present in zip code 92108 for over two decades. The initial LIHTC project, Mission Terrace Apts, was completed in 1995, while the most recent project, Versa At Civita, was finished in 2015. The 2010s witnessed the most substantial addition to the affordable housing stock in this area.
The LIHTC-funded projects in zip code 92108 offer a range of unit types. There are 14 efficiencies, 143 one-bedroom units, 19 two-bedroom units, and 24 three-bedroom units. This distribution indicates accommodation for various household sizes, with an emphasis on smaller households.
Over the past decade, zip code 92108 has experienced population growth, increasing from 19,747 in 2013 to 24,879 in 2022. This growth of over 25% may have contributed to the need for additional affordable housing, as evidenced by the completion of the Versa At Civita project in 2015.
Median income in zip code 92108 has risen from $75,569 in 2013 to $91,039 in 2022. Despite this increase, the continued presence of LIHTC projects suggests an ongoing need for affordable housing options, possibly due to rising housing costs in the broader San Diego area.
Racial demographics in zip code 92108 have shifted. The white population decreased from 60% in 2013 to 49% in 2022, while the Hispanic population increased from 16% to 23% during the same period. The Asian population has remained relatively constant at around 10-11%. These demographic changes may influence the ongoing need for diverse and affordable housing options in the area.
Zip code 92108 in San Diego has a modest but significant LIHTC-funded affordable housing inventory, representing about 2.36% of the estimated housing stock. The area has seen consistent investment in affordable housing over the past few decades, with projects tailored to various household sizes. Despite rising median incomes, population growth and changing demographics suggest an ongoing need for affordable housing options in this zip code.
