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Affordable Housing in Burbank Center: A Demographic Analysis of LIHTC Projects
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Burbank Center, a neighborhood in Burbank, California, has 191 total units in Low-Income Housing Tax Credit (LIHTC) funded projects, with 189 designated as low-income units. Based on the 2022 population of 25,041 and an estimated 9,594 housing units, LIHTC-funded affordable housing represents approximately 2% of the neighborhood's estimated housing inventory.
The LIHTC program has invested $593,048 in project tax credits in Burbank Center, averaging $3,105 per unit across all LIHTC-funded projects. Affordable housing has been present in the neighborhood for over two decades, with the first project completed in 1999 and the most recent in 2005.
The early 2000s saw the most activity in affordable housing development, with both projects completed during this period. The housing inventory includes 2 efficiencies, 47 one-bedroom units, and 34 two-bedroom units, catering to various household sizes and needs.
Burbank Center has experienced demographic shifts over the past decade. The population increased slightly from 24,095 in 2019 to 25,041 in 2022. Median income rose from $63,925 in 2019 to $64,806 in 2022, with a peak of $72,476 in 2021.
Racial demographics have evolved. The white population decreased from 57% in 2019 to 51% in 2022, while the Asian population increased from 14% to 15%. The Hispanic population remained stable at around 24-25%. These changes suggest a gradual diversification of the neighborhood.
Despite these demographic shifts, no new LIHTC projects have been built in the last decade. This could be due to various factors, including land availability, changing priorities, or the existence of other affordable housing programs not captured in this data.
Burbank Center's LIHTC-funded affordable housing inventory, while modest in relation to the overall housing stock, represents a significant investment in the community. The two projects, completed in the early 2000s, provide 191 units, with a strong focus on low-income residents. The neighborhood has experienced gradual demographic changes over the past decade, including a slight increase in population, rising median income, and increasing diversity. While no new LIHTC projects have been added recently, the existing inventory continues to play a crucial role in providing affordable housing options in this evolving neighborhood.
