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Affordable Housing Analysis in Zip Code 90026: A 25-Year LIHTC Development Span
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 90026, located in Los Angeles, California, has a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. This area contains 1,671 total units in LIHTC-funded projects, with 1,546 designated as low-income units. Based on the 2022 population of 66,738 and an estimated 25,570 housing units, the LIHTC-funded affordable housing covers approximately 6.5% of the zip code's estimated housing inventory.
The LIHTC projects in zip code 90026 have received $17,806,032 in project tax credits, averaging about $10,656 in federal funding per unit. This zip code holds 0.58% of California's total LIHTC funding, indicating a notable concentration of affordable housing investment in this area.
Affordable housing has been a long-standing feature of zip code 90026, with the first LIHTC project completed in 1993 and the most recent finished in 2018. This represents a 25-year span of continuous affordable housing development. The early 2000s saw the most significant affordable housing construction activity, with multiple projects completed between 2003 and 2008.
The LIHTC-funded housing in zip code 90026 offers a diverse range of unit types, including 216 efficiencies, 272 one-bedroom units, 349 two-bedroom units, 273 three-bedroom units, and 186 four-bedroom units. This variety caters to different household sizes and needs within the low-income population. Several projects in the area focus on special needs populations, likely providing additional support services tailored to their residents' specific requirements.
Over the past decade, zip code 90026 has experienced some demographic shifts. The population has slightly decreased from 69,336 in 2015 to 66,738 in 2022. The median income has risen from $53,870 in 2015 to $69,153 in 2022. Racial demographics have also shifted, with the Hispanic population decreasing from 55% in 2015 to 49% in 2022, while the white population has increased from 23% to 29% during the same period. The Asian population has remained relatively stable at around 15-16%.
Zip code 90026 demonstrates a substantial commitment to affordable housing through its LIHTC-funded projects. With over 1,500 low-income units across various project types and sizes, it addresses a significant portion of the area's affordable housing needs. The long-term presence of LIHTC projects, spanning from 1993 to 2018, indicates a sustained effort to maintain and expand affordable housing options. Despite demographic shifts and rising median incomes, the continued development of LIHTC projects suggests an ongoing demand for affordable housing in this Los Angeles neighborhood.
