Loading Content...
Affordable Housing and Demographic Shifts in Fairway Park, Hayward: A Single LIHTC Project's Impact
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Fairway Park, a neighborhood in Hayward, California, has a population of 11,365 as of 2022. The area contains one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project, which provides 57 units, with 56 designated as low-income. This LIHTC-funded housing represents approximately 1.3% of the neighborhood's estimated 4,354 housing units.
The LIHTC project in Fairway Park, named Sara Conner Court, was completed in 2006 and received $862,750 in tax credits, averaging $15,136 per unit in federal funding. Sara Conner Court has been operational for over 15 years, offering a mix of unit types: 6 one-bedroom, 29 two-bedroom, and 22 three-bedroom units, catering to various household sizes.
Fairway Park has experienced demographic changes over the past decade. The population increased slightly from 11,053 in 2015 to 11,365 in 2022. The median income rose from $116,015 in 2015 to $123,893 in 2022, indicating an overall improvement in the neighborhood's economic status.
Racial demographics in Fairway Park have shifted significantly. The Asian population increased from 26% in 2015 to 42% in 2022. The Hispanic population decreased slightly from 37% to 33%, and the White population declined from 22% to 14% during the same period. The Black population remained relatively stable at 7-9%.
The presence of the LIHTC project suggests an ongoing need for affordable housing in Fairway Park, despite the rising median income. The absence of additional LIHTC projects in recent years may be attributed to the overall increase in median income, potentially reducing the perceived need for more low-income housing. However, rising incomes can also lead to increased housing costs, potentially creating a greater need for affordable options for lower-income residents.
In summary, Fairway Park's affordable housing landscape is characterized by a single LIHTC-funded project, Sara Conner Court, providing 57 units of affordable housing since 2006. This project contributes to the neighborhood's affordable housing stock but represents a small percentage of the overall estimated housing inventory. The neighborhood has experienced demographic shifts over the past decade, including rising median incomes and changes in racial composition. These factors, along with potential changes in housing costs, may influence the ongoing need for affordable housing in the area.
