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Affordable Housing in Zip Code 92127: LIHTC Investments and Demographic Shifts
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 92127 in San Diego, California, contains a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. This area has 787 units in LIHTC-funded projects, with 780 designated as low-income units. LIHTC-funded affordable housing comprises approximately 4.1% of the total housing stock, based on an estimated 19,000 housing units in the zip code.
The LIHTC program has made substantial investments in zip code 92127, with project tax credits totaling $7,329,296. This equates to an average federal funding of about $9,313 per unit. Zip code 92127 accounts for 0.24% of California's total LIHTC funding, indicating a considerable investment in affordable housing for the area.
Affordable housing has been present in zip code 92127 since 2004, with projects developed until 2017. The earliest project, Dove Canyon Apartments, was completed in 2004, while the most recent, Fairbanks Terrace Apartments, was finished in 2017. The 2010-2019 decade saw the most affordable housing development, with three projects completed in 2014 and 2017.
The LIHTC-funded projects in zip code 92127 offer various unit types. There are 167 one-bedroom units, 152 two-bedroom units, and 202 three-bedroom units, accommodating different household sizes and needs.
Zip code 92127 experienced significant population growth over the past decade, increasing from 35,292 in 2010 to 49,590 in 2022. This growth coincides with the development of LIHTC projects, suggesting a response to increased housing demand.
The median income in zip code 92127 has fluctuated but remained high, ranging from $151,576 in 2013 to $153,604 in 2022. Despite the area's overall affluence, the presence of LIHTC projects indicates a recognition of the need for affordable housing options.
Racial demographics in zip code 92127 have remained relatively stable, with a slight increase in diversity. The Asian population grew from 31% in 2013 to 34% in 2022, while the white population decreased from 52% to 46% during the same period. The Hispanic population increased modestly from 7% to 9%.
Zip code 92127 demonstrates a commitment to affordable housing through its LIHTC-funded projects, which represent a small but significant portion of the area's housing stock. The continuous development of affordable housing from 2004 to 2017 aligns with the area's population growth and changing demographics. While the median income remains high, the presence of LIHTC projects ensures housing options for lower-income residents in this rapidly growing and diverse community.
