Loading Content...
Affordable Housing in Zip Code 92866: LIHTC Investments and Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The 92866 zip code in Orange, California, encompasses an area of 1.97 square miles and had a population of 16,215 in 2022. This zip code contains a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory, comprising 208 total units, of which 207 are designated as low-income units. Based on the national average household size of 2.61, the estimated housing inventory for this zip code is approximately 6,213 units. The LIHTC funded affordable housing represents about 3.35% of the estimated housing units in the zip code.
The LIHTC program has invested $1,634,595 in tax credits for affordable housing projects in zip code 92866. This amount equates to an average federal funding of approximately $7,858 per unit. Notably, this zip code accounts for 0.05% of California's total LIHTC funding allocation. Affordable housing has been present in this zip code for over two decades, with the first project, Chestnut Place, completed in 1996, and the most recent, Triangle Terrace Apartments, finished in 2017. The 1990s experienced the highest level of affordable housing development activity in this area.
The affordable housing inventory in zip code 92866 consists of a variety of unit types. There are 19 efficiencies, 105 one-bedroom units, and 1 two-bedroom unit. This distribution indicates a focus on housing for individuals and small families.
Over the past decade, the population in zip code 92866 has remained relatively stable, fluctuating between 16,000 and 17,000 residents. The median income has shown an upward trend, increasing from $72,005 in 2013 to $86,739 in 2022, indicating improving economic conditions for residents.
The racial composition of zip code 92866 has experienced some changes. The Hispanic population has remained relatively stable, accounting for approximately 38-41% of the population in recent years. The white population has decreased slightly from 54% in 2019 to 47% in 2022, while the Asian population has increased from 5% to 6% during the same period.
The most recent LIHTC project, Triangle Terrace Apartments, was completed in 2017. This aligns with a period of rising median income and shifting racial demographics, suggesting a continued need for affordable housing options despite improving economic conditions for some residents.
Zip code 92866 in Orange, California, has a modest LIHTC funded affordable housing inventory, covering about 3.35% of the estimated housing units. The area has seen consistent investment in affordable housing over more than two decades, with projects tailored primarily to individuals and small families. Despite rising median incomes, the diverse population and changing demographics suggest an ongoing need for affordable housing options in this community.
