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Affordable Housing Analysis in Santa Barbara's 93103 Zip Code: LIHTC Funded Projects and Demographics
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 93103 zip code of Santa Barbara contains a notable inventory of affordable housing funded by Low-Income Housing Tax Credits (LIHTC). This area has 103 total units in LIHTC-funded projects, with 98 designated as low-income units. These units represent approximately 1.5% of the estimated 6,885 housing units in the zip code.
LIHTC projects in this zip code have received $2,052,244 in tax credits, averaging $19,925 per unit. This funding constitutes 0.07% of California's total LIHTC allocation. The development of affordable housing in this zip code spans from 1989 to 2020, demonstrating a long-term commitment to addressing housing needs.
The 2010s saw significant growth in affordable housing, with four projects completed during this decade. The housing inventory offers a range of unit types, including 16 efficiencies, 5 one-bedroom units, 31 two-bedroom units, 27 three-bedroom units, and 3 four-bedroom units. Two projects, East Canon Perdido and Johnson Court, focus on individuals with special needs and veterans, respectively.
The 93103 zip code has experienced minor population fluctuations over the past decade. The population peaked at 18,949 in 2012 and stood at 17,970 in 2022, maintaining a relatively stable population density. Median income in the zip code has varied, ranging from $111,237 in 2013 to $97,492 in 2020, with the most recent data for 2022 indicating a median income of $98,015.
Racial demographics in the zip code have shifted over the past decade. The Hispanic population decreased from 56% in 2013 to 50% in 2022, while the White population increased from 37% to 42%. The Asian population also saw a small increase from 2% to 4% during this period.
In summary, the 93103 zip code of Santa Barbara demonstrates an ongoing commitment to affordable housing through LIHTC-funded projects. These developments, while comprising a small percentage of the overall housing inventory, provide essential support for low-income residents. The area has seen diverse housing projects over three decades, including specialized housing for vulnerable populations. Despite minor fluctuations in population and income, the continued development of affordable housing projects indicates sustained efforts to address the community's changing needs.
