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Affordable Housing Dynamics in Oakland's Oak Tree Neighborhood: A Study of LIHTC Impact
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Oak Tree, a neighborhood in Oakland, California, exhibits a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area contains 204 total units in LIHTC funded projects, with 175 designated as low-income units. Based on the 2022 population of 5,144 and using the national average household size, the neighborhood is estimated to have approximately 1,971 housing units. LIHTC funded affordable housing comprises about 10.4% of this estimated housing inventory, indicating a substantial contribution to the area's affordable housing needs.
The LIHTC program has invested significantly in Oak Tree, with project tax credits totaling $2,205,908. This equates to an average federal funding of approximately $10,813 per unit in LIHTC funded projects. The neighborhood has experienced steady development of affordable housing over several decades. The initial LIHTC project, 1811 27Th Ave, was completed in 1987, while the most recent, Drasnin Manor Apts, was finished in 2013. This 26-year span demonstrates a long-term commitment to affordable housing in the area.
The 2000s were particularly active for affordable housing development in Oak Tree. Three projects - Oak Park Apts (2003), Orchard Senior Homes (2008), and Seven Directions (2008) - were completed during this decade, marking it as a period of significant growth in the neighborhood's affordable housing stock.
The LIHTC funded projects in Oak Tree offer a diverse range of unit types. Out of the 204 total units, there are 2 efficiencies, 82 one-bedroom units, 32 two-bedroom units, 43 three-bedroom units, and 3 four-bedroom units. This variety caters to different household sizes and needs within the low-income population.
Over the past decade, Oak Tree has experienced notable demographic shifts. The population has remained relatively stable, fluctuating between about 4,300 and 5,600 residents. However, the median income has shown a significant upward trend, rising from $30,855 in 2013 to $47,017 in 2022. This increase in median income suggests a changing economic landscape in the neighborhood.
Racial demographics have also evolved. The Hispanic population has remained the largest group, consistently representing over 50% of residents. There has been a slight increase in the Asian population, from 14% in 2020 to 20% in 2022, while the Black population has decreased slightly from 17% to 14% over the same period. The White population has remained relatively stable at around 7-9% in recent years.
Despite these demographic changes, no new LIHTC projects have been completed since 2013. This could be due to various factors, including the rising median income or changes in local housing policies and priorities.
Oak Tree neighborhood in Oakland has a substantial LIHTC funded affordable housing presence, covering about 10.4% of the estimated housing inventory. The area has seen consistent development of affordable housing from 1987 to 2013, with the most active period being the 2000s. The LIHTC program has provided significant funding, averaging over $10,000 per unit. While demographic shifts have occurred, including rising median incomes and slight changes in racial composition, the existing LIHTC funded projects continue to provide a diverse range of affordable housing options for the community.
