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Affordable Housing in Zip Code 93003: LIHTC Impact and Demographic Trends
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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 93003 in San Buenaventura (Ventura), California, has a population of 52,183 as of 2022. The Low-Income Housing Tax Credit (LIHTC) program has funded 144 units in this area, with 143 designated as low-income units. These LIHTC-funded units represent approximately 0.72% of the estimated 19,993 housing units in the zip code.
The LIHTC projects in zip code 93003 have received $1,256,638 in tax credits, averaging $8,726 per unit. This funding accounts for 0.04% of California's total LIHTC allocation. Affordable housing has been present in this zip code since 1995, with the most recent project completed in 2016. One LIHTC project was completed in the 1990s and another in the 2010s.
The affordable housing inventory in zip code 93003 includes 39 efficiency units and 1 two-bedroom unit. The Castillo Del Sol Apartments, completed in 2016, specifically caters to individuals with developmental disabilities, addressing a specific community need.
The population of zip code 93003 has grown moderately over the past decade, increasing from 49,798 in 2013 to 52,183 in 2022. During this period, the median income rose from $73,092 to $89,654, potentially indicating an increased need for affordable housing options.
The racial composition of zip code 93003 has remained relatively stable between 2013 and 2022. The Hispanic population increased slightly from 28% to 33%, while the White population decreased from 62% to 57%. These demographic changes may suggest a need for culturally sensitive affordable housing solutions.
The LIHTC program has made a modest contribution to affordable housing in zip code 93003, providing 144 units over two decades. This represents a small percentage of the overall housing stock. The targeted nature of projects like Castillo Del Sol Apartments demonstrates efforts to address specific community needs. The area's rising median income and subtle demographic shifts underscore the ongoing importance of affordable housing initiatives in this zip code.
