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Affordable Housing Analysis in Zip Code 91340: LIHTC Projects and Demographic Trends
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 91340, located in San Fernando, California, contains 180 total units in Low-Income Housing Tax Credit (LIHTC) funded projects, with 176 designated as low-income units. Based on the 2022 population of 35,919 and an estimated 13,762 housing units, LIHTC-funded affordable housing comprises approximately 1.3% of the zip code's estimated housing inventory.
The LIHTC projects in zip code 91340 have received $1,409,050 in tax credits, averaging about $7,828 per unit. This funding represents 0.05% of California's total LIHTC allocation. The affordable housing presence in this zip code spans from 2006 to 2013, with the earliest recorded project, San Fernando Senior Housing, completed in 2006 and the most recent developments, San Fernando Community Housing and Mid Celis Apts, completed in 2013.
The 2010s saw the most affordable housing activity in zip code 91340, with multiple projects completed during this decade. The Mid Celis Apts project targets special needs populations. The housing unit distribution in LIHTC projects is predominantly one-bedroom units (168), with a small number of two-bedroom (6) and three-bedroom (6) units, suggesting a focus on smaller household sizes or individual residents.
Over the past decade, zip code 91340 has experienced fluctuations in population, peaking at 38,031 in 2017 before declining to 35,919 in 2022. Median income has shown an overall upward trend, rising from $60,676 in 2013 to $67,530 in 2022, with a notable peak of $73,251 in 2021.
The racial composition in zip code 91340 has remained relatively stable, with a slight increase in the Hispanic population from 88% in 2013 to 90% in 2022. The Asian population has grown from 1% to 4% during this period, while other racial groups have maintained relatively constant percentages.
The completion of LIHTC projects in 2013 coincides with the beginning of the observed demographic data. The subsequent lack of new LIHTC projects may be due to the overall increase in median income, suggesting a potentially reduced need for additional low-income housing in recent years.
Zip code 91340 demonstrates a modest approach to affordable housing through LIHTC funding. The area's 180 LIHTC-funded units cater to specific demographics including seniors and those with special needs. While LIHTC projects cover a small percentage of the estimated housing inventory, they represent a significant investment in the community's affordable housing landscape. The demographic trends, including a rising median income and stable racial composition, provide context for the area's evolving housing needs and may explain the lack of new LIHTC projects in recent years.
