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Affordable Housing Analysis in Zip Code 96150: South Lake Tahoe's LIHTC Inventory
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 96150, encompassing South Lake Tahoe, contains 253 units in Low-Income Housing Tax Credit (LIHTC) funded projects, with 183 designated as low-income units. This represents approximately 2.23% of the estimated 11,333 housing units in the area, based on the 2022 population of 29,580. The LIHTC projects in this zip code have received $1,832,048 in tax credits, averaging $7,241 per unit and accounting for 0.06% of California's total LIHTC funding allocation.
Affordable housing development in zip code 96150 spans nearly three decades, commencing with the Tahoe Pines Apts project in 1994 and concluding with The Aspens At South Lake in 2013. The 2000s witnessed the most significant activity, with three projects completed: Bijou Woods Apts (2001), Kelly Ridge (2009), and The Aspens At South Lake (2013). The LIHTC funded projects offer a range of unit types, including 35 one-bedroom, 105 two-bedroom, 80 three-bedroom, and 6 four-bedroom units, addressing diverse family sizes and needs.
The population in zip code 96150 has remained relatively stable over the past decade, with minor fluctuations. The median income has shown an overall upward trend, increasing from $59,174 in 2013 to $68,131 in 2022, with a peak of $78,369 in 2021. This income growth may indicate a reduced need for additional affordable housing in recent years.
The racial composition of zip code 96150 has remained fairly consistent, with the white population representing the majority (65-70%) throughout the decade. The Hispanic population has experienced a slight decrease from 27% in 2013 to 24% in 2022. The Asian population has marginally increased from 3% to 5% during this period.
In summary, zip code 96150 in South Lake Tahoe maintains a modest LIHTC funded affordable housing inventory, covering about 2.23% of the estimated housing stock. The area has experienced consistent development of affordable housing projects from 1994 to 2013, with the most activity occurring in the 2000s. The diverse unit types available cater to various family sizes. While the population has remained stable, the area has experienced overall income growth in the past decade, which may have influenced the lack of new LIHTC projects since 2013. The racial composition has remained relatively constant, with a slight decrease in the Hispanic population and a small increase in the Asian population.
