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Affordable Housing Analysis in San Francisco Zip Code 94109: A Three-Decade LIHTC Investment
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 94109 in San Francisco, California, contains a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. This urban area has 1,685 affordable housing units, with 1,529 designated as low-income units. The LIHTC-funded affordable housing comprises approximately 8.4% of the estimated 20,150 housing units in the zip code.
The LIHTC projects in zip code 94109 have received $12,881,945 in project tax credits, averaging $7,645 in federal funding per unit. This zip code holds 0.42% of the total state LIHTC funding, indicating a notable concentration of affordable housing investment in this area.
Affordable housing has been present in zip code 94109 for nearly three decades. The first LIHTC project, Larkin Pine Senior Housing, was completed in 1994, while the most recent project, 1760 Bush, was finished in 2018. The 2000s saw the most affordable housing development, with several projects completed during this decade, including Notre Dame Apts (2002), Leland Polk Senior Community (2005), and Hotel Essex (2008).
The affordable housing inventory in zip code 94109 is diverse, with a total of 1,685 units. These units are distributed as follows: 621 efficiencies, 576 one-bedroom units, 126 two-bedroom units, 37 three-bedroom units, and 4 four-bedroom units. This distribution suggests a focus on smaller households and potentially senior housing.
Over the past decade, the population in zip code 94109 has remained relatively stable, with a slight decrease from 54,445 in 2019 to 52,592 in 2022. The median income has fluctuated, reaching a peak of $118,279 in 2021 before decreasing to $108,639 in 2022. This trend might indicate a continuing need for affordable housing options in the area.
The racial distribution in zip code 94109 has remained fairly consistent over the past decade. As of 2022, the population is approximately 50% White, 27% Asian, 13% Hispanic, and 4% Black, with small percentages of other racial groups. This diverse demographic composition underscores the importance of maintaining affordable housing options to support a mixed-income community.
Zip code 94109 in San Francisco has a substantial LIHTC-funded affordable housing inventory, covering about 8.4% of the estimated housing units. The area has seen consistent affordable housing development over nearly three decades, with a concentration of projects completed in the 2000s. The housing stock is diverse, with a focus on smaller units. Despite fluctuations in median income, the stable population and diverse racial composition suggest an ongoing need for affordable housing options in this urban area.
