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Affordable Housing in Zip Code 91007: A Decade of LIHTC Development in Arcadia, 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 91007, located in Arcadia, California, has a population of 32,474 as of 2022 and contains several Low-Income Housing Tax Credit (LIHTC) funded affordable housing projects. The LIHTC program has supported the development of 98 total units, with 96 designated as low-income units. Based on the estimated housing inventory of 12,442 units, LIHTC-funded affordable housing comprises approximately 0.79% of the zip code's housing stock.
The LIHTC projects in zip code 91007 have received $1,265,123 in tax credits, averaging about $12,909 per unit. This funding represents 0.04% of California's total LIHTC allocations. Affordable housing has been present in this zip code since at least 2004, with the completion of Heritage Park At Arcadia. The most recent project, Naomi Gardens, was completed in 2014, spanning a decade of LIHTC-funded development in the area. The 2010s saw the most affordable housing activity, with two projects completed during this period.
The housing mix in these LIHTC projects is predominantly one-bedroom units, with 79 such units available. There are also 11 two-bedroom units, providing options for slightly larger households. There are no efficiencies, three-bedroom, or four-bedroom units in these projects, which may limit options for very small or larger families.
Over the past decade, the zip code's population has remained relatively stable, with a slight decrease from 33,471 in 2015 to 32,474 in 2022. The median income has shown some fluctuation but overall growth, rising from $86,334 in 2015 to $88,979 in 2022. This increase in median income might suggest a reduced need for additional affordable housing in recent years.
The racial composition of zip code 91007 has seen some shifts, with the Asian population decreasing from 59% in 2015 to 55% in 2022, while the Hispanic population increased from 11% to 17% during the same period. The white population has remained stable at around 22-23%. These demographic changes could potentially influence future affordable housing needs and planning.
Zip code 91007 has a modest LIHTC-funded affordable housing inventory, covering less than 1% of its estimated housing stock. The area has seen consistent, though limited, development of affordable housing over a decade, with a focus on one-bedroom units. While the population has remained relatively stable, changes in median income and racial composition may influence future affordable housing needs. The LIHTC program has played a small but significant role in providing affordable housing options in this zip code, contributing to the diverse housing landscape of the area.
