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Affordable Housing Analysis in Zip Code 93727: Three Decades of LIHTC Development in Fresno
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 93727 in Fresno, California, contains a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The area encompasses 564 total units in LIHTC-funded projects, with 560 designated as low-income units. Based on the estimated 29,172 housing units in the zip code, LIHTC-funded affordable housing comprises approximately 1.93% of the housing inventory.
The LIHTC projects in zip code 93727 have received $2,579,664 in tax credits, averaging $4,574 per unit in federal funding. This zip code accounts for 0.08% of California's total LIHTC funding allocation. Affordable housing has been present in this zip code since 1987, with the Fresno Four-Plex being the first LIHTC project completed. The most recent project, Kings Canyon, was completed in 2018, indicating over three decades of affordable housing development in the area.
The LIHTC-funded housing inventory in zip code 93727 includes 72 one-bedroom units, 109 two-bedroom units, and 69 three-bedroom units. One project, Pacific Gardens Apts, completed in 2011, targets the "At-Risk" population, potentially addressing the needs of vulnerable residents in the community.
Over the last decade, zip code 93727 has experienced significant population growth, increasing from 64,858 in 2013 to 76,138 in 2022. During this period, the median income rose from $49,071 to $69,004, indicating overall economic improvement in the area.
Racial demographics in zip code 93727 have remained relatively stable, with some notable shifts. The Hispanic population has slightly increased from 44% to 45%, while the Asian population has grown from 20% to 26%. Conversely, the White population has decreased from 25% to 19%, and the Black population has slightly decreased from 7% to 5%.
The completion of two LIHTC projects during this period (Chestnut Family Apartments in 2014 and Kings Canyon in 2018) aligns with the area's population growth and changing demographics, potentially addressing the evolving affordable housing needs of the community.
Zip code 93727 in Fresno has a modest LIHTC-funded affordable housing inventory, covering about 1.93% of the estimated housing units. The area has seen consistent development of affordable housing over three decades, with projects adapting to changing demographics and population growth. LIHTC funding has contributed significantly to affordable housing in the area.
