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Affordable Housing in Potrero Hill: LIHTC Funding 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
Potrero Hill, a San Francisco neighborhood, has a total of 73 LIHTC funded affordable housing units, with 72 designated as low-income units. This comprises approximately 1.66% of the estimated 4,406 housing units in the neighborhood. The LIHTC program has invested $2,873,159 in tax credits for affordable housing projects in Potrero Hill, averaging about $39,358 per unit in federal funding. LIHTC funded projects in the area span from 1992 to 2019, with Connecticut Street Court being the first and Potrero Block X the most recent.
The 2010s marked significant development in LIHTC funded affordable housing for Potrero Hill. The completion of Potrero Block X in 2019 added 72 units to the neighborhood's affordable housing inventory, including various unit types to accommodate different household sizes.
Potrero Hill has experienced demographic changes over the past decade. The population has slightly increased from 11,425 in 2014 to 11,500 in 2022. The median income has risen from $165,345 in 2014 to $169,865 in 2022, with some fluctuations. Racial demographics have shifted, with the white population decreasing from 62% to 52%, the Asian population increasing from 16% to 22%, and minor changes in Hispanic and Black populations.
The completion of Potrero Block X in 2019 coincides with these demographic shifts, potentially addressing changing housing needs in the neighborhood. The increase in median income and the racial demographic changes may have influenced the decision to develop this large LIHTC project.
Potrero Hill's LIHTC funded affordable housing inventory, while small compared to the overall housing stock, has experienced significant growth in recent years. The completion of Potrero Block X in 2019 marked a substantial increase in affordable housing units, adding diverse unit types to meet various household needs. This development coincided with demographic shifts in the neighborhood, including increasing median income and changes in racial composition. Although the LIHTC funded affordable housing covers a small percentage of the estimated housing inventory, it represents an important contribution to maintaining housing affordability in this changing San Francisco neighborhood.
