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Affordable Housing Analysis in San Francisco Zip Code 94131: Vista Del Monte Apartments
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 94131 in San Francisco, California, contains 104 affordable housing units funded by the Low-Income Housing Tax Credit (LIHTC) program. These units represent approximately 0.88% of the estimated 11,757 housing units in the zip code. All LIHTC-funded units in this area are designated as low-income units.
The LIHTC program has invested $887,786 in tax credits for affordable housing projects in zip code 94131. This equates to an average federal funding of $8,536 per unit. The zip code accounts for 0.03% of the total LIHTC funding allocated to California. The Vista Del Monte Apartments, completed in 2005, is the only LIHTC-funded project in this area, providing affordable housing options for nearly two decades.
The affordable housing inventory in zip code 94131 includes a diverse mix of unit types. The Vista Del Monte Apartments project consists of 26 one-bedroom units, 2 two-bedroom units, 49 three-bedroom units, and 9 four-bedroom units. This distribution indicates a focus on accommodating families and larger households within the affordable housing stock.
Zip code 94131 has experienced steady population growth over the past decade, increasing from 27,932 residents in 2013 to 30,685 in 2022. The median income has risen significantly during this period, from $123,421 in 2013 to $159,724 in 2022, suggesting a trend towards higher-income households in the area.
The racial composition of zip code 94131 has shown some changes. The white population has decreased from 59% in 2013 to 52% in 2022, while the Asian population has increased from 19% to 22% during the same period. The Hispanic population has remained relatively stable at approximately 12-13%.
Despite the rising median income, the presence of LIHTC-funded affordable housing indicates an ongoing need for low-income housing options in this community. The absence of new LIHTC projects in the last decade may be attributed to limited developable land availability or high construction costs in San Francisco.
Zip code 94131 in San Francisco features a single LIHTC-funded affordable housing project, providing 104 low-income units. Although this represents a small percentage of the estimated housing stock, it plays a significant role in maintaining some level of affordability in an area experiencing rising incomes and changing demographics. The diverse unit mix in the Vista Del Monte Apartments serves various household sizes, contributing to the neighborhood's housing diversity. As the community continues to evolve, monitoring the balance between market-rate and affordable housing will be crucial for maintaining a mixed-income neighborhood.
