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Affordable Housing Analysis in Zip Code 91343: LIHTC Funded Projects in Los Angeles
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 91343 in Los Angeles, California, contains a significant inventory of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. This area has 652 total units in LIHTC funded projects, with 594 designated as low-income units. Based on the 2022 population of 63,357 and an estimated 24,275 housing units, LIHTC funded affordable housing comprises approximately 2.69% of the zip code's estimated housing inventory.
The LIHTC projects in zip code 91343 have received $8,185,182 in project tax credits, averaging about $12,554 in federal funding per unit. This zip code holds 0.27% of California's total LIHTC funding, indicating a notable concentration of affordable housing investment in this area.
Affordable housing has been present in zip code 91343 for over two decades. The earliest LIHTC projects, including Balboa Place Apts and Casa Seville/Memory Park, were completed in 1997. The most recent projects, ND Sepulveda I and ND Sepulveda II, were finished in 2013. The 2000s saw the most affordable housing development, with multiple projects completed throughout the decade.
The LIHTC funded projects in zip code 91343 offer a diverse range of unit types. There are 202 efficiencies, 144 one-bedroom units, 134 two-bedroom units, 87 three-bedroom units, and 47 four-bedroom units. This variety caters to different household sizes and needs within the low-income population.
Several projects in the area target specific populations. Plummer Village Apts, completed in 2005, and Columbus Square Apts, finished in 2009, are both designated for "At-Risk" populations. Woodland Terrace (2007) and Rayen Apts (2009) focus on "Special Needs" residents, potentially providing specialized services or accommodations for these groups.
Over the past decade, the population in zip code 91343 has fluctuated, peaking at 66,889 in 2018 before declining to 63,357 in 2022. Despite this recent population decrease, the median income has shown an overall upward trend, rising from $63,870 in 2013 to $77,349 in 2022. This increase in median income may indicate changing economic conditions in the area.
The racial composition of zip code 91343 has remained relatively stable, with Hispanic residents consistently making up the largest demographic group (around 60% of the population). The Asian population has slightly increased from 13% to 15% between 2013 and 2022, while the White population has remained steady at around 20%. This demographic stability suggests that the LIHTC projects have been serving a consistent community profile over the years.
Zip code 91343 in Los Angeles has a notable presence of LIHTC funded affordable housing, covering about 2.69% of the estimated housing inventory. With projects spanning from 1997 to 2013, this area has seen sustained investment in affordable housing, particularly during the 2000s. The diverse unit types and targeted populations in these projects reflect efforts to meet varied housing needs. While the population has slightly declined in recent years, rising median incomes and stable racial demographics suggest evolving economic conditions in the area. This LIHTC funded housing plays a crucial role in maintaining affordable options in a changing urban landscape.
