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Affordable Housing in Zip Code 90620: Two Decades of LIHTC-Funded Development in Buena Park, California
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 90620 in Buena Park, California, contains 328 total units in Low-Income Housing Tax Credit (LIHTC) funded affordable housing projects, with 325 designated as low-income units. Based on the 2022 population of 51,192 and an estimated 19,614 housing units, LIHTC-funded affordable housing represents approximately 1.67% of the zip code's estimated housing inventory.
The LIHTC projects in this zip code have received $2,710,647 in tax credits, averaging about $8,264 per unit. This funding represents 0.09% of California's total LIHTC allocations. Affordable housing has been present in this zip code for over two decades. The first LIHTC project, Emerald Gardens Apartments, was completed in 2002, while the most recent, Park Landing Apartments, was finished in 2013. The 2000s saw the most affordable housing development, with two projects completed during this decade.
The inventory of LIHTC-funded units in this zip code includes 138 one-bedroom apartments, 70 two-bedroom units, and 23 three-bedroom units. This distribution suggests a focus on accommodating various household sizes, from individuals to small families.
Over the past decade, the population in zip code 90620 has grown from 48,627 in 2013 to 51,192 in 2022, an increase of about 5.3%. During this same period, the median income rose from $78,199 in 2013 to $97,208 in 2022, representing a 24.3% increase.
The racial demographics have remained relatively stable, with some shifts. The Hispanic population has increased from 34% in 2013 to 37% in 2022, while the Asian population has grown from 25% to 30%. The white population has decreased from 34% to 27% during this period.
The steady population growth and substantial increase in median income may suggest a growing need for affordable housing options, especially for lower-income residents who may be facing increased housing costs in a more affluent area.
Zip code 90620 in Buena Park has a small but significant inventory of LIHTC-funded affordable housing, representing about 1.67% of the estimated housing stock. The area has seen consistent investment in affordable housing over two decades, with projects catering to various household sizes. While the population has grown moderately, the substantial increase in median income highlights the potential importance of maintaining and possibly expanding affordable housing options to ensure community diversity and accessibility for lower-income residents.
