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Affordable Housing Analysis in Zip Code 95367: A Decade of LIHTC Development in Riverbank, California
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 95367, located in Riverbank, California, contains Low-Income Housing Tax Credit (LIHTC) funded affordable housing. This area has 152 total units in LIHTC-funded projects, with 148 designated as low-income units. The LIHTC-funded affordable housing comprises approximately 1.9% of the total housing stock, based on an estimated housing inventory of 7,879 units for the zip code.
The LIHTC projects in zip code 95367 have received $2,053,578 in tax credits, averaging about $13,510 per unit in federal funding. This zip code accounts for 0.07% of the total LIHTC funding allocated to California. Affordable housing has been present in this community for nearly two decades, with the first LIHTC project, Willow Point Apartments, completed in 2005. The most recent project on record, Riverview Garden Apartments, was finished in 2014.
The LIHTC-funded housing in zip code 95367 offers various unit types. Of the 152 total units, 56 are one-bedroom, 55 are two-bedroom, 33 are three-bedroom, and 8 are four-bedroom units. This distribution suggests an effort to accommodate different household sizes and needs within the community.
Zip code 95367 has experienced demographic shifts over the past decade. The population increased from 19,235 in 2010 to 20,565 in 2022. Median income rose from $62,770 in 2013 to $72,843 in 2022, indicating improving economic conditions for some residents. Racial demographics show slight changes, with the Hispanic population increasing from 55% in 2013 to 55% in 2022, while the white population decreased from 38% to 34% during the same period. The Asian population increased from 2% to 6%.
These demographic trends, particularly population growth and income changes, may have influenced the need for affordable housing in zip code 95367. The completion of several LIHTC projects during this period aligns with the growing population and potentially addresses the needs of lower-income residents amid rising median incomes.
Zip code 95367 has a small but significant inventory of LIHTC-funded affordable housing, representing about 1.9% of the estimated housing stock. The area has seen consistent development of affordable housing projects over the past two decades, with a focus on the 2010s. The diverse unit types suggest an effort to meet varied housing needs. The demographic trends provide context for the continued development of affordable housing in this zip code.
