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Affordable Housing in Zip Code 90041: LIHTC Funded Projects and Demographic Trends
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 90041, located in Los Angeles, California, contains 145 units in Low-Income Housing Tax Credit (LIHTC) funded affordable housing projects. Of these, 142 are designated as low-income units. The LIHTC funded affordable housing comprises approximately 1.3% of the area's estimated housing inventory of 11,041 units.
The LIHTC projects in zip code 90041 have received $1,382,498 in project tax credits, averaging about $9,534 per unit in federal funding. This zip code accounts for 0.04% of the total state LIHTC funding. LIHTC funded affordable housing has been present in this zip code since at least 2006, with the most recent project completed in 2015.
The LIHTC funded housing inventory in zip code 90041 consists of 7 efficiencies, 85 one-bedroom units, 5 two-bedroom units, and 2 three-bedroom units. This distribution indicates a focus on smaller household sizes. One notable project, Tres Lomas Garden Apts, targets the "At-Risk" population, suggesting a specific focus on providing housing for individuals or families who may be at risk of homelessness or facing other housing insecurities.
The population in zip code 90041 has remained relatively stable over the past decade, fluctuating between 28,000 and 30,000 residents. The median income has shown an overall upward trend, increasing from $77,092 in 2013 to $90,842 in 2022, with some fluctuations in between.
Racial demographics in zip code 90041 have experienced changes. The Hispanic population decreased from 41% in 2013 to 35% in 2022, while the Asian population slightly increased from 24% to 25%. The White population remained relatively stable, moving from 29% to 32% during this period.
The completion of the Teague Terrace project in 2015 aligns with a period of increasing median income and shifting racial demographics in zip code 90041. This suggests that despite rising incomes, there was still a recognized need for affordable housing in this zip code.
Zip code 90041 has a modest LIHTC funded affordable housing inventory, covering about 1.3% of the estimated housing stock. The area has seen consistent development of affordable housing projects from 2006 to 2015, with a focus on smaller units. Despite rising median incomes over the past decade, the continued development of affordable housing projects indicates an ongoing need for such housing in this area. The racial demographics have shown some shifts, with a decrease in the Hispanic population and slight increases in Asian and White populations.
