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Affordable Housing Analysis in Zip Code 92869: LIHTC Funded Inventory and Demographic Shifts
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 92869, located in Orange, California, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 46 total units, with 45 designated as low-income units. Based on the 2022 population of 36,001 and an estimated 13,793 housing units, the LIHTC funded affordable housing comprises approximately 0.33% of the zip code's estimated housing inventory.
The LIHTC projects in this zip code have received $1,079,066 in project tax credits, averaging about $23,458 per unit in federal funding. Notably, this zip code holds 0.04% of California's total LIHTC funding allocation. Affordable housing has been present in this zip code since 1996, with the completion of The Knolls (Orange). The most recent project, Stonegate Senior Apartments, was completed in 2003, indicating a span of at least 7 years of affordable housing development in this area.
The LIHTC funded housing inventory in zip code 92869 consists primarily of one-bedroom and two-bedroom units. Specifically, there are 16 one-bedroom units and 4 two-bedroom units. This distribution suggests a focus on housing for smaller households or individuals.
Over the past decade, the population in zip code 92869 has remained relatively stable, with a slight decrease from 36,747 in 2013 to 36,001 in 2022. However, the median income has shown a significant increase, rising from $105,063 in 2013 to $128,281 in 2022. This upward trend in income might partially explain the lack of new LIHTC projects in recent years.
The racial composition of zip code 92869 has also seen some changes. The white population has slightly increased from 45% in 2013 to 46% in 2022, while the Hispanic population has decreased from 39% to 36%. The Asian population has remained relatively stable at around 11-14%. These demographic shifts, coupled with the rising median income, may have influenced the perceived need for additional affordable housing in the area.
The analysis of LIHTC funded affordable housing in zip code 92869 reveals a modest inventory of 46 units, representing a small fraction of the estimated housing stock. The area received over $1 million in LIHTC funding, primarily used for projects completed between 1996 and 2003. The housing units are predominantly one and two-bedroom configurations. While the population has remained relatively stable over the past decade, the area has seen a significant increase in median income, which may have impacted the development of new affordable housing projects in recent years. The racial composition has also undergone subtle changes, with a slight increase in the white population and a decrease in the Hispanic population.
