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Affordable Housing in Oakland's 94605 Zip Code: Three Decades of LIHTC Development
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 94605 in Oakland, California, contains a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The area has 500 total units in LIHTC-funded projects, including 447 low-income units. This represents approximately 2.9% of the estimated 17,231 housing units in the zip code. The LIHTC program has invested $4,501,134 in project tax credits in this zip code, averaging $9,002 per unit in federal funding. This zip code accounts for 0.15% of California's total LIHTC funding.
Affordable housing development in zip code 94605 spans three decades. The earliest LIHTC projects, Patten Towers II and Foothill Plaza, were completed in 1988. The most recent project, E.E. Cleveland Manor, was completed in 2018. The 1980s saw the highest activity in LIHTC project completions, with three projects finished during this period.
The LIHTC-funded housing in this zip code offers a range of unit types. Of the 500 total units, there are 29 efficiencies, 123 one-bedroom units, 141 two-bedroom units, 84 three-bedroom units, and 2 four-bedroom units. This variety accommodates different household sizes and needs within the low-income population.
Demographic shifts over the past decade may have influenced affordable housing needs in zip code 94605. The population increased from 41,698 in 2013 to 44,974 in 2022, indicating a growing demand for housing. Median income rose from $65,329 in 2013 to $83,294 in 2022, potentially affecting eligibility for affordable housing.
Racial demographics in zip code 94605 have shown changes. The Black population decreased from 48% in 2013 to 41% in 2022. Asian and Hispanic populations experienced small increases. The White population remained relatively stable at 16-17%. These shifts may impact the diversity of residents in affordable housing units.
Zip code 94605 in Oakland has a notable LIHTC-funded affordable housing presence, with 500 units representing about 2.9% of the estimated housing inventory. The area has received significant federal investment, averaging $9,002 per unit. Affordable housing development has occurred over three decades, with the most activity in the 1980s. The diverse unit types serve various household sizes. Population growth and increased median income over the past decade, along with subtle shifts in racial demographics, collectively shape the affordable housing landscape in this zip code, reflecting ongoing efforts to meet the community's housing needs.
