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Affordable Housing in Fruitvale Station: LIHTC's Impact on a Changing Oakland Neighborhood
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Fruitvale Station, an Oakland, California neighborhood, features significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area contains one LIHTC project with 94 total units, 92 of which are designated as low-income. Based on the 2022 population of 823 and using the national average household size, the estimated housing inventory for the neighborhood is approximately 315 units. LIHTC-funded affordable housing comprises about 29.8% of the estimated housing inventory, indicating a substantial contribution to the neighborhood's affordable housing needs.
The LIHTC project in Fruitvale Station received $2,371,432 in tax credits, averaging approximately $25,228 per unit. This investment demonstrates a commitment to affordable housing in the area. The neighborhood's LIHTC-funded affordable housing project, Fruitvale Transit Village II-A, was completed in 2019, suggesting a recent focus on affordable housing through the LIHTC program.
The project provides a mix of unit sizes, including 24 one-bedroom, 47 two-bedroom, and 23 three-bedroom units. This variety caters to different household sizes and needs within the low-income population. Fruitvale Transit Village II-A targets homeless and formerly homeless veterans, addressing a critical need for housing among a vulnerable population.
Over the past decade, Fruitvale Station has experienced population fluctuations, with a general trend towards growth. The median income has increased overall, rising from $27,706 in 2013 to $39,840 in 2022. This income growth may indicate changing economic conditions in the neighborhood.
The racial composition of Fruitvale Station has evolved. Hispanic residents have consistently formed the majority, but their proportion has decreased from 89% in 2013 to 65% in 2022. The Asian population has increased from 4% to 10%, and the Black population from 5% to 12% during the same period. The White population has also seen an increase from 2% to 10%.
The introduction of the LIHTC project in 2019 coincides with these demographic shifts, potentially responding to the changing needs of the diversifying population and addressing affordability concerns in the face of rising incomes.
Fruitvale Station's LIHTC-funded affordable housing project contributes significantly to the neighborhood's housing inventory, covering nearly 30% of the estimated housing units. The completion of Fruitvale Transit Village II-A in 2019 demonstrates a contemporary approach to addressing affordable housing needs, particularly for vulnerable populations like homeless veterans. The diverse unit mix caters to various household sizes, reflecting the neighborhood's changing demographics. As Fruitvale Station continues to evolve with increasing median incomes and growing diversity, the LIHTC project plays a role in maintaining affordability and supporting the community's housing needs.
