Loading Content...
Affordable Housing Analysis in Zip Code 92054: LIHTC Impact and Demographic Trends
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 92054 in Oceanside, California has a population of 36,239 as of 2022. This area has benefited from Low-Income Housing Tax Credit (LIHTC) funded affordable housing, with a total of 148 units, of which 126 are designated as low-income units. Based on the estimated housing inventory of 13,885 units, the LIHTC-funded affordable housing covers approximately 1.07% of the zip code's housing stock.
The LIHTC projects in zip code 92054 have received $1,033,034 in tax credits, averaging about $6,980 per unit. This represents 3% of the total LIHTC funding allocated to California. The zip code has seen LIHTC-funded affordable housing development spanning over a decade, with the first project, Tremont Street Apartments, completed in 1997, and the most recent, Country Club Apartments - Oceanside, finished in 2009.
The 2000s saw the most significant affordable housing development in this area, with two projects completed during this decade. The housing inventory consists of 20 efficiencies, 105 one-bedroom units, and 23 two-bedroom units, catering to various household sizes and needs. One notable project, Tremont Street Apartments, targets special needs populations, potentially providing crucial housing for individuals requiring additional support services.
Over the past decade, zip code 92054 has experienced some demographic shifts. The population has slightly decreased from 38,574 in 2018 to 36,239 in 2022. However, median income has shown an overall upward trend, rising from $70,924 in 2018 to $67,937 in 2022, despite some fluctuations.
Racial distribution has remained relatively stable, with the white population consistently representing about 49-51% of residents. The Hispanic population has slightly decreased from 37% to 38% during this period. There have been minor increases in the Asian and multi-racial populations.
While no new LIHTC projects have been recorded in the last decade, the demographic trends suggest a potential need for continued affordable housing options, particularly given the rising median income which could potentially price out some lower-income residents.
Zip code 92054 in Oceanside has a modest LIHTC-funded affordable housing inventory, covering about 1.07% of the estimated housing stock. The area has seen LIHTC development from 1997 to 2009, with a focus on smaller units suitable for individuals or small families. The rising median income and stable racial distribution highlight the ongoing importance of maintaining and potentially expanding affordable housing options in this community.
