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Affordable Housing in Zip Code 90814: LIHTC-Funded Project Analysis
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 90814 in Long Beach, California, contains a single Low-Income Housing Tax Credit (LIHTC) funded affordable housing project. This zip code has 25 total units in LIHTC funded projects, with 24 designated as low-income units. Based on the 2022 population of 19,689 and using the national average household size, there are approximately 7,544 housing units in this zip code. The LIHTC funded affordable housing represents about 0.33% of the estimated housing inventory in the area.
The LIHTC program has invested $617,482 in tax credits for affordable housing projects in zip code 90814. This equates to an average federal funding of $24,699 per unit. This zip code accounts for approximately 0.02% of California's total LIHTC funding, indicating a relatively small portion of the state's affordable housing investment.
The sole LIHTC funded affordable housing project in zip code 90814 is Immanuel Place (formerly known as Immanuel Senior Housing), completed in 2016. This project comprises the entirety of LIHTC funded affordable housing in the area, making 2016 a significant year for affordable housing development in this zip code.
All 25 units in the LIHTC funded project are one-bedroom units, suggesting a focus on housing for individuals or small households. The project does not have a specified target population, indicating it may serve a diverse range of residents.
Over the past decade, zip code 90814 has experienced demographic shifts. The population increased from 17,904 in 2017 to 19,689 in 2022, a growth of about 10%. Median income rose from $75,179 in 2017 to $84,441 in 2022, representing a 12.3% increase. Racial distribution has shown minor changes, with the white population decreasing from 54% in 2017 to 50% in 2022, and the Hispanic population increasing from 25% to 32% during the same period. The Asian and Black populations remained relatively constant at around 6-9% each.
The completion of the LIHTC project in 2016 coincides with a period of population growth and increasing median income in the area. This suggests that the affordable housing development may have been a response to growing housing needs in an increasingly affluent area. The demographic trends over the past decade provide context for the development of this affordable housing project in zip code 90814. The area's changing racial composition and economic landscape may continue to influence future affordable housing needs and developments in this zip code.
