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Affordable Housing Analysis in San Francisco ZIP Code 94102: A Hub for 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
The 94102 zip code in San Francisco, California, exhibits a substantial Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. This area contains 4,382 total units in LIHTC-funded projects, with 3,932 of these designated as low-income units. LIHTC-funded affordable housing comprises approximately 32.4% of the area's estimated housing stock of 13,515 units. This high percentage indicates that LIHTC-funded affordable housing plays a substantial role in meeting the housing needs of the community.
The LIHTC projects in zip code 94102 have received $55,646,639 in tax credits, averaging about $12,700 per unit. This zip code holds 1.81% of California's total LIHTC funding, which is a notable portion for a single zip code. Affordable housing has been a long-standing presence in this area, with the first LIHTC project, Jones Street Apartments, completed in 1993. The most recent addition, Dorothy Day Community, was finished in 2020, spanning nearly three decades of affordable housing development.
The 2010s saw the most affordable housing activity, with several notable projects completed. These include the Drs Julian & Raye Richardson Apartments (2011), 220 Golden Gate Assoc (2012), and Eddy and Taylor Family Housing (2019). The LIHTC-funded housing in zip code 94102 offers a diverse range of unit types. Out of the 4,382 total units, there are 2,334 efficiencies, 1,009 one-bedroom units, 343 two-bedroom units, 221 three-bedroom units, and 26 four-bedroom units. This distribution suggests a focus on accommodating smaller households and individuals.
Several projects cater to specific populations. The Cecil Williams Glide Community House and Derek Silva Community, both completed in the early 2000s, serve special needs residents. The Salvation Army Railton Place, finished in 2008, also focuses on special needs populations. The Cambridge Rehab, completed in 2013, targets individuals with mental illness.
Over the past decade, zip code 94102 has experienced significant population growth, increasing from 26,902 in 2013 to 35,273 in 2022. This 31% population increase correlates with continued LIHTC development during this period. The median income has also risen substantially, from $40,910 in 2013 to $75,217 in 2022, potentially indicating a growing need for affordable housing options in an increasingly expensive area. Racial demographics have remained relatively stable, with slight decreases in the Asian and Black populations and small increases in the Hispanic and multiracial populations. The White population has seen a minor decrease from 37% in 2013 to 33% in 2022.
Zip code 94102 demonstrates a robust LIHTC-funded affordable housing presence, covering nearly one-third of the estimated housing inventory. With projects spanning almost three decades and catering to diverse needs, including special populations, the LIHTC program has played a crucial role in providing affordable housing options in this area. The continued development of LIHTC projects aligns with the significant population growth and rising median income, suggesting an ongoing effort to maintain affordable housing options in an evolving urban environment.
