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Affordable Housing Analysis in Zip Code 92131: Sagewood Apartments Impact
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 92131 in San Diego, California, contains a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing project. The area has 106 affordable housing units, with 105 designated as low-income units. These LIHTC-funded units represent approximately 0.83% of the total housing stock, estimated at 12,757 units in this zip code.
The LIHTC program has invested $757,110 in tax credits for affordable housing projects in zip code 92131. This investment averages $7,142 per unit in federal funding. Notably, this allocation accounts for 2% of California's total LIHTC funding, indicating a significant investment in this particular area.
Sagewood Apartments, completed in 2006, is the primary LIHTC-funded project in zip code 92131. This development has provided affordable housing options for over 15 years. The project offers a range of unit types, including 8 one-bedroom, 44 two-bedroom, and 54 three-bedroom units, accommodating various household sizes and needs.
Zip code 92131 has experienced demographic shifts over the past decade. The population decreased from 34,980 in 2018 to 33,296 in 2022. Despite this decline, the median income has shown an upward trend, reaching $146,123 in 2022.
The racial composition of zip code 92131 has evolved. The Asian population increased from 25% in 2018 to 27% in 2022, while the white population decreased from 57% to 52% during the same period. The Hispanic population grew slightly from 11% to 12%. These demographic changes may influence the ongoing need for affordable housing in the area.
Zip code 92131 in San Diego features a single LIHTC-funded affordable housing project, Sagewood Apartments, providing 106 units of affordable housing. While this represents a small percentage of the total housing stock, it contributes to addressing affordable housing needs in the area. The diverse unit mix caters to various household sizes, and the project has served the community for over 15 years. As demographics continue to shift, ongoing assessment of affordable housing needs in zip code 92131 will be crucial to ensure adequate housing options for all residents.
