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Affordable Housing Analysis in Zip Code 94533: Fairfield's LIHTC Investment
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 94533, located in Fairfield, California, contains a substantial inventory of LIHTC-funded affordable housing units. The area has 1,187 affordable units, of which 1,172 are designated as low-income units. This quantity represents approximately 4.1% of the estimated 28,625 total housing units in the zip code. The LIHTC program has invested $4,895,119 in project tax credits in this zip code, averaging about $4,124 per unit. This investment accounts for 0.16% of California's total LIHTC funding.
Affordable housing development in zip code 94533 spans from 1995 to 2015. The initial LIHTC project, Sunset Creek, was completed in 1995, while the most recent addition, Monument Arms Apartments, was finished in 2015. This 20-year period indicates a sustained effort to provide affordable housing options. The 2000s witnessed the most significant development in affordable housing, with several projects completed during this decade, including Dover Woods Senior Apartments (2004), Fairfield Heights Apartments (2005), and Laurel Gardens Apartments (2006).
The LIHTC-funded housing in zip code 94533 offers diverse unit types. The inventory comprises 4 efficiencies, 329 one-bedroom units, 542 two-bedroom units, 141 three-bedroom units, and 10 four-bedroom units. This variety accommodates different household sizes and needs within the low-income population. Notably, Laurel Gardens Apartments, completed in 2006, targets individuals with special needs, demonstrating an effort to address the housing requirements of a specific vulnerable population.
Zip code 94533 has experienced population growth over the past decade, increasing from 66,747 in 2013 to 74,711 in 2022. Concurrently, the median income has risen from $62,571 in 2013 to $76,540 in 2022, indicating overall economic improvement in the area. The racial composition has remained relatively stable, with minor shifts observed. The Hispanic population has grown slightly from 33% in 2013 to 37% in 2022, while the White population has decreased from 29% to 24% during the same period. The Asian population has seen a small increase from 13% to 15%, and the Black population has remained steady at approximately 16-17%.
Despite the absence of new LIHTC projects since 2015, the demographic trends suggest a continued need for affordable housing options. The population growth, coupled with the significant Hispanic and Black populations, which often face higher rates of housing cost burden, indicates an ongoing demand for affordable units. Zip code 94533 in Fairfield, California, has a notable LIHTC-funded affordable housing inventory, representing about 4.1% of its estimated housing stock. With projects spanning two decades and catering to diverse needs, including special populations, the area demonstrates a long-term commitment to affordable housing. The growing population and demographic composition suggest a continued need for affordable housing options in this community.
