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Affordable Housing in Zip Code 94019: Half Moon Bay's LIHTC Inventory
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Half Moon Bay, located in zip code 94019, is a coastal community in California. The zip code has a LIHTC funded affordable housing inventory of 394 total units, with 390 designated as low-income units. This represents approximately 5.5% of the estimated 7,193 housing units in the zip code.
The LIHTC projects in zip code 94019 have received $6,562,824 in project tax credits, averaging about $16,657 per unit. This zip code holds 0.21% of the total state LIHTC funding. The first LIHTC project, Coastside Apts, was completed in 1999, while the most recent project with a known completion date is Half Moon Village Phase II, finished in 2015.
The LIHTC funded housing in zip code 94019 consists of 193 one-bedroom units, 45 two-bedroom units, 26 four-bedroom units, and 16 three-bedroom units. The Moonridge II project, completed in 2001, targets the special needs population.
Over the last decade, the zip code's population has fluctuated, peaking at 20,341 in 2019 before declining to 18,774 in 2022. The median income has generally increased, reaching $134,244 in 2022. The racial composition has remained relatively stable, with a slight increase in the white population from 61% in 2013 to 68% in 2022, and a decrease in the Hispanic population from 31% to 23% over the same period.
The completion of several LIHTC projects in 2014 and 2015 coincides with a period of population growth and rising median incomes in the area. This suggests that the affordable housing developments may have been a response to increasing housing costs and the need to maintain economic diversity in the community.
Zip code 94019 has a notable LIHTC funded affordable housing inventory, covering about 5.5% of the estimated housing stock. With seven projects developed over 16 years, the area has seen consistent investment in affordable housing, particularly in the mid-2010s. The housing mix caters to various household sizes, with a focus on one-bedroom units. The demographic trends over the past decade, including population growth and rising incomes, underscore the ongoing importance of maintaining affordable housing options in this coastal California community.
