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Affordable Housing in Oakland's Merritt Neighborhood: LIHTC Impact and 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
The Merritt neighborhood in Oakland, California, has a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. With 329 total units in LIHTC-funded projects, of which 326 are designated as low-income units, this neighborhood demonstrates a substantial commitment to affordable housing. Based on the 2022 population of 4,869 and an estimated 1,866 housing units, the LIHTC-funded affordable housing covers approximately 17.6% of the neighborhood's estimated housing inventory. This percentage aligns with the target range of 15-20% for affordable housing in a well-balanced community.
The LIHTC program has invested $2,896,297 in tax credits for affordable housing projects in the Merritt neighborhood. This translates to an average federal funding of about $8,803 per unit. The neighborhood has seen a steady development of affordable housing over time. The earliest recorded project, Lake Merritt Apts, was completed in 2002, while the most recent known completion was the Lakeside Senior Apartments in 2014. This 12-year span indicates a consistent focus on affordable housing development in the area.
The 2010s saw the most activity in affordable housing construction, with notable projects like Eldridge Gonaway Commons (2013) and Lakeside Senior Apartments (2014) being completed. The housing inventory is diverse, with a total of 329 units comprising 86 efficiencies, 202 one-bedroom units, 17 two-bedroom units, 14 three-bedroom units, and 2 four-bedroom units. This distribution suggests a focus on smaller households, which aligns with urban living trends and possibly the needs of the target populations.
Over the past decade, the Merritt neighborhood has experienced some demographic shifts. The population has remained relatively stable, fluctuating between 4,470 and 4,869 residents. However, there has been a significant increase in median income, rising from $27,819 in 2013 to $61,028 in 2022. This upward trend in income could potentially impact the demand for affordable housing in the future.
Racial demographics have also shifted. The Asian population has remained the largest group, though decreasing slightly from 41% in 2019 to 33% in 2022. The Black population has increased from 16% to 21% over the same period, while the White population has seen a slight increase from 24% to 27%. The Hispanic population has remained relatively stable at around 14-15%. These changes in racial composition and income levels may influence future affordable housing needs and planning in the neighborhood.
The Merritt neighborhood in Oakland demonstrates a significant commitment to affordable housing through its LIHTC-funded projects. With 17.6% of its estimated housing inventory dedicated to affordable units, it closely aligns with recommended targets for a balanced community. The neighborhood has seen consistent development of affordable housing over more than a decade, with a diverse range of unit types catering to different household sizes. While the population has remained relatively stable, rising median incomes and shifting racial demographics may influence future affordable housing needs in the area. This analysis highlights the importance of ongoing assessment and planning to ensure that affordable housing provision continues to meet the evolving needs of the Merritt neighborhood's residents.
