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Affordable Housing Analysis in San Francisco's Castro District: Zip Code 94114
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 zip code 94114 in San Francisco, which encompasses the Castro district, contains a significant inventory of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. This area has 127 total units in LIHTC funded projects, with 122 designated as low-income units. Based on the 2022 population of 34,909 and an estimated 13,375 housing units, the LIHTC funded affordable housing comprises approximately 0.95% of the zip code's estimated housing inventory.
The LIHTC projects in zip code 94114 have received $1,997,343 in project tax credits, averaging about $15,727 per unit. This zip code accounts for 0.06% of California's total LIHTC funding, indicating a relatively small but notable contribution to the state's affordable housing efforts.
Affordable housing has been present in this zip code since at least 1992, with the completion of the Padre Palou Apartments. The most recent project, 25 Sanchez, was completed in 2017, demonstrating a 25-year span of LIHTC-funded development in the area. The 2010s saw the most affordable housing activity, with two projects completed during this decade.
The LIHTC inventory in zip code 94114 includes a diverse mix of unit types. Of the 127 total units, there are 75 efficiencies, 27 one-bedroom units, 8 two-bedroom units, 6 three-bedroom units, and 2 four-bedroom units. This distribution suggests a focus on accommodating smaller households and individuals.
Over the past decade, zip code 94114 has experienced population growth, increasing from 31,842 in 2013 to 34,909 in 2022. Concurrently, median income rose from $139,480 in 2013 to $168,478 in 2022. The racial composition has remained relatively stable, with a slight decrease in the white population (from 74% to 67%) and small increases in Asian and multi-racial populations.
The completion of two LIHTC projects in 2014 and 2017 aligns with the period of population growth and rising incomes, suggesting efforts to maintain affordable housing options in an increasingly expensive area.
Zip code 94114 has a small but significant LIHTC-funded affordable housing presence, with projects spanning 25 years. While these units represent less than 1% of the estimated housing inventory, they provide crucial affordable options in an area that has seen substantial population growth and rising incomes. The diverse unit mix caters to various household sizes, reflecting efforts to meet different affordable housing needs in this San Francisco neighborhood.
