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Affordable Housing in McClymonds: 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
The McClymonds neighborhood in Oakland, California, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood contains 233 units in LIHTC-funded projects, with 230 designated as low-income units. This represents approximately 18.8% of the neighborhood's estimated housing stock, based on a 2022 population of 3,233 and an estimated 1,239 housing units.
The LIHTC program has invested $2,966,949 in tax credits in McClymonds, averaging about $12,734 per unit in LIHTC-funded projects. Affordable housing development in the area spans from 1988, when the 820 Milton St project was completed, to 2003, when the most recent project, Chestnut Linden Court, was finished.
LIHTC-funded housing in McClymonds offers a range of unit types, including 31 one-bedroom, 73 two-bedroom, 71 three-bedroom, and 8 four-bedroom units. This distribution indicates a focus on accommodating families and larger households.
McClymonds has experienced demographic changes over the past decade. The population increased from 2,635 in 2015 to 3,233 in 2022, suggesting growing housing demand. Median income rose from $38,321 in 2015 to $63,942 in 2022, potentially affecting affordable housing needs.
Racial demographics have shifted, with the Black population decreasing slightly from 37% in 2015 to 38% in 2022, while the Hispanic population increased from 15% to 26%. The White population decreased from 32% to 21%. These changes may influence the types of affordable housing needed in the neighborhood.
Despite these demographic shifts, no new LIHTC projects have been completed in McClymonds since 2003. This could be attributed to various factors, including changes in funding priorities, land availability, or housing policy shifts.
The McClymonds neighborhood in Oakland maintains a substantial inventory of LIHTC-funded affordable housing, comprising nearly 19% of its estimated housing stock. Affordable housing development occurred consistently from the late 1980s through the early 2000s, providing a diverse range of unit types. While recent years have seen demographic changes, including population growth and shifts in racial composition, no new LIHTC projects have been completed since 2003. The existing affordable housing stock continues to play an important role in meeting the needs of low-income residents in this evolving neighborhood.
