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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 95470, encompassing Redwood Valley in Mendocino County, California, contains one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project. This project provides 49 affordable units, all categorized as low-income units. The total housing inventory in this zip code is estimated at 2,193 units, with LIHTC funded affordable housing comprising 2.23% of the housing stock.
The LIHTC project in zip code 95470 received $1,815,642 in project tax credits, averaging $37,054 per unit in federal funding. This allocation represents 0.06% of California's total LIHTC funding, indicating a modest yet important investment in affordable housing for this rural area.
Coyote Valley Homes I, the sole LIHTC project in this zip code, was completed in 2019. It consists of 49 units: 9 two-bedroom, 34 three-bedroom, and 6 four-bedroom apartments. This development specifically targets the Native American population, addressing a particular demographic need in the area.
Zip code 95470 experienced population fluctuations over the past decade, with a slight increase from 5,689 in 2010 to 5,725 in 2022. The median income showed an upward trend, rising from $65,538 in 2013 to $70,776 in 2022, suggesting gradual economic improvement.
Racial demographics in zip code 95470 remained relatively stable, with the white population constituting the majority (64% in 2022). The Hispanic population increased notably from 15% in 2013 to 27% in 2022. The Native American population consistently represented 3-5% of the total population, aligning with the target demographic of the Coyote Valley Homes I project.
The completion of the LIHTC project in 2019 coincided with a period of population growth and increasing median income in zip code 95470. This timing suggests that the affordable housing development responded to growing housing needs in an area experiencing economic improvement.
Zip code 95470 contains one LIHTC funded affordable housing project providing 49 low-income units, primarily serving the Native American population. This project represents a small portion of the estimated housing inventory but marks a significant investment in affordable housing for this rural community. The project's 2019 completion aligns with demographic trends showing population growth and increasing median income. The focus on larger units and targeting of the Native American population demonstrates an effort to address specific housing needs in the community.