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Affordable Housing Analysis in Zip Code 92118: LIHTC-Funded Units in Coronado, California
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 92118, located in Coronado, California, contains a total of 98 LIHTC-funded affordable housing units. These units represent approximately 1.65% of the estimated 5,925 housing units in the zip code. All 98 units are designated as low-income units.
The LIHTC projects in zip code 92118 have received $931,433 in tax credits, averaging $9,504 per unit. This amount constitutes 0.03% of California's total LIHTC funding allocation. Affordable housing has been present in the zip code for over a decade, with the first project, Coronado Senior Housing, completed in 2007, and the most recent, C4, finished in 2019.
The 2010s witnessed the most affordable housing development activity, with three out of four projects completed during this decade. Notable projects include Orange Villas (2011) and C4 (2019). The LIHTC-funded inventory in this zip code consists of 5 efficiencies, 22 one-bedroom units, and 45 two-bedroom units, accommodating various household sizes and needs.
Over the past decade, zip code 92118 has experienced fluctuations in population, with a peak of 20,510 residents in 2020, followed by a decline to 15,464 in 2022. Despite these changes, the median income has shown an overall increasing trend, rising from $102,080 in 2013 to $116,198 in 2022.
The racial composition of the area has remained relatively stable, with a slight decrease in the white population from 81% in 2013 to 72% in 2022. Concurrently, there has been a modest increase in Hispanic representation, growing from 12% to 18% during the same period. These demographic shifts may have influenced the need for affordable housing in the area.
Zip code 92118 has a small but notable LIHTC-funded affordable housing inventory, covering 1.65% of the estimated housing stock. The area has seen consistent affordable housing development over the past 15 years, with projects catering to various household sizes. While the population has fluctuated and median income has increased, the racial composition has remained relatively stable with a slight trend towards increased diversity. These factors collectively contribute to the affordable housing landscape in this zip code.
