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Affordable Housing in Zip Code 92071: A Two-Decade Progress Report
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 92071, located in San Diego, California, has a notable presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area has 625 total units in LIHTC funded projects, with 616 of these designated as low-income units. Based on the estimated housing inventory of 23,428 units, the LIHTC funded affordable housing covers approximately 2.67% of the zip code's housing stock.
The LIHTC projects in this zip code have received $5,519,189 in tax credits, averaging $8,830 in federal funding per unit. This zip code holds 0.18% of California's total LIHTC funding, indicating a modest but significant contribution to the state's affordable housing efforts.
Affordable housing has been a part of this community for over two decades. The first LIHTC project, Shadow Hill Apartments, was completed in 2002, while the most recent, Carlton Villas Apartments, was finished in 2018. The 2010s saw the most activity in affordable housing development, with four projects completed during this decade: Cedar Creek Apartments (2010), Forester Square (2013), Woodglen Vista (2017), and Carlton Villas Apartments (2018).
The LIHTC funded projects in this zip code offer a diverse range of unit types. There are 197 one-bedroom units, 264 two-bedroom units, and 128 three-bedroom units, catering to various household sizes and needs.
Over the past decade, the population in zip code 92071 has grown steadily, increasing from 55,387 in 2013 to 61,148 in 2022. This 10.4% population growth may have contributed to the need for additional affordable housing units, as evidenced by the LIHTC projects completed during this period.
The median income in the zip code has also seen significant growth, rising from $84,655 in 2013 to $92,955 in 2022. Despite this increase, the continued development of LIHTC projects suggests an ongoing need for affordable housing options in the area.
Racial demographics have remained relatively stable, with a slight decrease in the white population (from 72% in 2013 to 66% in 2022) and small increases in Asian (4% to 6%) and Hispanic (17% to 19%) populations. This diversity may reflect the importance of providing affordable housing options for various communities within the zip code.
Zip code 92071 has an established foundation of LIHTC funded affordable housing, with projects spanning from 2002 to 2018. While the 625 total units represent a small percentage of the estimated housing inventory, they provide crucial low-income housing options in an area with rising population and median income. The diversity of unit types and the consistent development of new projects over the years indicate an ongoing commitment to addressing affordable housing needs in this San Diego community.
