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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Forest Hill Extension, a San Francisco neighborhood, is characterized by high median income and low population density. The area contains one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project, providing 107 units, of which 106 are low-income. This project accounts for approximately 15.8% of the neighborhood's estimated 677 housing units, aligning with targets for a balanced community.
The LIHTC project in Forest Hill Extension received $1,627,989 in tax credits, averaging about $15,215 per unit in federal funding. Completed in 2016, the "255 Woodside" project marked the introduction of LIHTC-funded affordable housing to the area. The development consists of 87 efficiency units and 2 one-bedroom units, suggesting a focus on housing for individuals or small households.
Demographic trends since the project's completion in 2016 show a relatively stable population, fluctuating between 1,700 and 1,900 residents. Median income has increased from $168,814 in 2016 to $190,441 in 2022, indicating growing affluence. Racial demographics have shifted slightly, with decreases in white (49% to 48%) and Asian (31% to 25%) populations, and an increase in residents identifying as two or more races (3% to 14%). The Hispanic population has remained relatively stable, decreasing slightly from 14% to 10%.
These demographic shifts, particularly the rising median income, highlight the importance of the LIHTC project in maintaining economic diversity within an increasingly affluent neighborhood.
The Forest Hill Extension's LIHTC project, completed in 2016, significantly contributes to the neighborhood's affordable housing stock, closely aligning with target percentages for balanced communities. The project's focus on efficiency and one-bedroom units addresses specific housing needs in the area. Despite rising median incomes and demographic shifts, the presence of this affordable housing helps maintain economic diversity in the neighborhood. The substantial federal investment per unit underscores the commitment to providing quality affordable housing in this high-cost area of San Francisco.