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Affordable Housing in Zip Code 92887: LIHTC Projects in Affluent Yorba Linda
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 92887 in Yorba Linda, California, contains Low-Income Housing Tax Credit (LIHTC) funded affordable housing. This area has 247 total units in LIHTC-funded projects, with 245 designated as low-income units. Based on the 2022 population of 18,291 and an estimated 7,008 housing units, LIHTC-funded affordable housing comprises approximately 3.5% of the zip code's estimated housing inventory.
The LIHTC program has invested $3,600,376 in tax credits in this zip code. This equates to an average federal funding of $14,576 per unit. Zip code 92887 accounts for 0.12% of California's total LIHTC funding, representing a small but significant contribution to the state's affordable housing efforts.
Affordable housing has been present in this community for nearly ten years. The first LIHTC project, Vintage At Stonehaven, was completed in 2013, and the most recent, Oakcrest Heights (Savi Ranch II), was finished in 2018. The 2010s saw the most significant development of affordable housing in this area, with all three projects completed during this decade.
The inventory of LIHTC-funded units in zip code 92887 includes 25 one-bedroom, 85 two-bedroom, and 39 three-bedroom units. This distribution indicates a focus on accommodating various household sizes, from individuals to families.
Over the past decade, the zip code has experienced minor fluctuations in population, with a general trend towards stability. The median income has remained consistently high, ranging from approximately $145,000 to $158,000, indicating an affluent area. The presence of LIHTC projects suggests a recognition of the need for affordable housing options even in higher-income communities.
The racial composition of zip code 92887 has remained relatively stable, with a slight increase in Asian population (from 19% to 23%) and a small decrease in the white population (from 62% to 54%) between 2013 and 2022. The Hispanic population has held steady at around 16-17%. This diversity may reflect a need for housing options that cater to various demographic groups.
Zip code 92887 in Yorba Linda has made progress in providing affordable housing through the LIHTC program, with 247 units across three projects developed over a five-year period. While these units represent a small percentage of the estimated housing inventory, they provide important affordable options in an area with high median incomes. The diverse unit types suggest an effort to accommodate various household sizes and needs. The consistent development of LIHTC projects throughout the 2010s, coupled with stable population and income trends, indicates an ongoing commitment to maintaining affordable housing options in this affluent community.
