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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 92026 in Escondido, California, has a population of 52,206 as of 2022 and covers an area of 36.63 square miles. This area has a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory, with 275 total units in LIHTC funded projects, of which 272 are designated as low-income units. Based on the estimated 20,002 housing units in the zip code, the LIHTC funded affordable housing covers approximately 1.37% of the housing inventory.
The LIHTC projects in zip code 92026 have received $3,097,817 in project tax credits, averaging about $11,265 per unit. This funding represents 0.1% of the total state LIHTC allocation, indicating a modest but notable investment in affordable housing for this area.
Affordable housing has been present in this zip code for nearly two decades, with the first LIHTC project, Terraces Apts, completed in 1996, and the most recent, The Crossings At Escondido Manor, finished in 2015. The 2010s saw the most significant development of affordable housing, with three projects completed during this decade: Avocado Court (2013), Sonoma Court Apartments (2014), and The Crossings At Escondido Manor (2015).
The LIHTC funded projects in zip code 92026 offer a diverse range of unit types, with 65 one-bedroom, 137 two-bedroom, 69 three-bedroom, and 4 four-bedroom units. This distribution suggests a focus on accommodating families of various sizes.
Over the past decade, the population in zip code 92026 has remained relatively stable, increasing slightly from 51,011 in 2013 to 52,206 in 2022. During this period, the median income saw significant growth, rising from $66,776 in 2013 to $83,860 in 2022, representing a 25.6% increase.
The racial composition of the area has remained fairly consistent, with some notable shifts. The Hispanic population has grown slightly from 37% in 2013 to 41% in 2022, while the White population decreased from 52% to 45% over the same period. The Asian population has remained stable at around 7-8%.
The development of LIHTC projects during the early to mid-2010s coincided with a period of population growth and the beginning of the upward trend in median income. This suggests that the affordable housing projects were responding to the needs of a growing community with increasing housing costs.
Zip code 92026 in Escondido has a modest but significant LIHTC funded affordable housing inventory, covering about 1.37% of the estimated housing stock. The area has seen consistent development of affordable housing over nearly two decades, with a concentration of projects completed in the 2010s. The LIHTC funded units offer a range of options for different household sizes, reflecting the diverse needs of the community. While the population has remained relatively stable over the past decade, the area has experienced significant income growth and slight shifts in racial composition, particularly an increase in the Hispanic population. These demographic changes provide context for the continued importance of affordable housing options in this zip code.