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Affordable Housing Development in Zip Code 92065: A Decade of LIHTC Projects in Ramona, 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 92065, located in Ramona, California, contains 132 total units in Low-Income Housing Tax Credit (LIHTC) funded projects, with 130 designated as low-income units. The estimated housing inventory for this zip code is approximately 14,136 units, based on the 2022 population of 36,895 and using the national average household size. LIHTC funded affordable housing covers about 0.93% of the estimated housing inventory in this zip code.
The LIHTC projects in zip code 92065 have received $4,572,680 in tax credits, averaging $34,641 per unit. This funding represents 0.15% of the total LIHTC credits allocated in California. The zip code has seen LIHTC funded affordable housing development from 2009 to 2019, with the first project, Montecito Village, completed in 2009, and the most recent, Schmale Family Senior Residence, finished in 2019.
The 2010s saw the most affordable housing development in this area. The housing inventory includes 21 one-bedroom, 36 two-bedroom, 24 three-bedroom, and 6 four-bedroom units. This range of unit sizes suggests accommodation for various household compositions, from individuals to larger families.
Over the past decade, zip code 92065 has experienced fluctuations in population, with a general upward trend from 36,437 in 2010 to 36,895 in 2022. The median income has risen from $89,346 in 2013 to $103,493 in 2022, indicating overall economic growth in the area.
Racial demographics in zip code 92065 have shifted, with the white population decreasing from 71% in 2013 to 60% in 2022. The Hispanic population has increased from 24% to 32% during the same period. This demographic shift may influence the need for diverse affordable housing options to serve a changing community.
Zip code 92065 has a small but significant LIHTC funded affordable housing presence, covering nearly 1% of the estimated housing inventory. The area has seen consistent development of affordable housing over the past decade, with projects receiving substantial federal funding. The changing demographics, including population growth and increasing diversity, suggest an ongoing need for affordable housing options in this community.
