Loading Content...
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 92592 in Temecula, California has a population of 82,207 as of 2022 and covers an area of 120.48 square miles. This zip code has one Low-Income Housing Tax Credit (LIHTC) funded project, providing 59 affordable housing units, all designated as low-income units. Based on the estimated housing inventory of 31,497 units, the LIHTC-funded affordable housing covers 0.19% of the zip code's housing stock.
The LIHTC project in this zip code received $887,874 in tax credits, which translates to an average federal funding of $15,049 per unit. This funding represents 0.03% of California's total LIHTC allocation. The sole LIHTC project in the area, Summerhouse Apartments, was completed in 2014, marking the beginning of LIHTC-funded affordable housing in this zip code.
Summerhouse Apartments offers a mix of unit types, with 22 one-bedroom units, 2 two-bedroom units, and 18 three-bedroom units. This distribution indicates accommodation for both individuals and families in need of affordable housing.
Over the past decade, the zip code has experienced demographic changes. The population has grown from 72,009 in 2013 to 82,207 in 2022, representing a 14% increase. Median income has risen from $99,344 in 2013 to $112,997 in 2022, indicating a 13.7% growth in household earnings.
Racial demographics have remained relatively stable, with minor shifts. The white population has decreased from 58% in 2013 to 52% in 2022, while the Hispanic population has increased from 21% to 26% during the same period. The Asian population has remained at around 10-11%, and the Black population has increased from 3% to 4%.
The completion of the Summerhouse Apartments in 2014 coincided with a period of population growth and increasing median income in the zip code. This suggests that despite rising incomes, there was a recognized need for affordable housing options in the area.
Zip code 92592 in Temecula, California has a single LIHTC-funded affordable housing project, Summerhouse Apartments, which provides 59 low-income units. This project, completed in 2014, represents 0.19% of the estimated housing inventory in the area. The zip code has experienced population growth and income increases over the past decade, along with slight shifts in racial demographics. The LIHTC project contributes to the affordable housing stock in the area.