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Affordable Housing in Cow Hollow: Limited LIHTC Inventory Amidst Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Cow Hollow, a neighborhood in San Francisco, California, has one LIHTC funded affordable housing project. This project, known as Edward II Rehab, was completed in 2014 and contains 25 affordable units, of which 24 are designated as low-income. Based on the 2022 population of 8,754 and using the national average household size, the estimated housing inventory for Cow Hollow is approximately 3,354 units. The LIHTC funded affordable housing represents about 0.75% of the estimated housing inventory in the neighborhood.
The LIHTC project in Cow Hollow received $735,413 in tax credits, resulting in an average federal funding of $29,417 per unit. The Edward II Rehab project consists entirely of efficiency units, with all 25 units being of this type.
Cow Hollow has experienced fluctuations in its population and demographic composition over the past decade. The population increased from 8,646 in 2013 to a peak of 9,645 in 2015, before declining to 8,754 in 2022. Despite these changes, the median income has generally trended upward, rising from $152,777 in 2013 to $173,391 in 2022.
The racial distribution in Cow Hollow has shown some changes while maintaining a predominantly white population. The white population decreased from 77% in 2013 to 70% in 2022. The Hispanic population increased from 8% to 12% during the same period. The Asian population remained relatively stable, fluctuating between 8% and 11% over the decade.
The completion of the Edward II Rehab project in 2014 coincided with a period of population growth and increasing median income in the neighborhood. No additional LIHTC projects have been developed since then, possibly due to the high median income levels and the relatively stable demographic composition of the area.
Cow Hollow's LIHTC funded affordable housing inventory is limited to one project, which provides 25 efficiency units. This project represents a small fraction of the neighborhood's estimated housing stock. The area has experienced moderate population fluctuations and a general increase in median income over the past decade, with a slight decrease in the white population and an increase in the Hispanic population. The lack of additional LIHTC projects since 2014 suggests that other factors may be influencing affordable housing development in this high-income neighborhood.
