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Affordable Housing in Zip Code 94513: Two Decades of LIHTC Development in Brentwood, California
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 94513 in Brentwood, California, contains a notable Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The area has 581 total units in LIHTC-funded projects, with 503 designated as low-income units. This affordable housing stock represents approximately 1.97% of the estimated 29,454 housing units in the zip code.
The LIHTC program has allocated $6,525,958 in tax credits for affordable housing projects in zip code 94513. This amount equates to an average federal funding of $11,232 per unit. The zip code's LIHTC funding accounts for 0.21% of the total LIHTC allocation in California.
Affordable housing development in zip code 94513 spans over two decades. The first LIHTC project, Green Valley Apartments, was completed in 1992, while the most recent, The Grove At Sunset Court, was finished in 2013. The 1990s saw the highest concentration of affordable housing development, with four projects completed during that decade.
The LIHTC-funded housing in zip code 94513 offers various unit types. The inventory includes 50 one-bedroom units, 130 two-bedroom units, 139 three-bedroom units, and 37 four-bedroom units. This distribution indicates a focus on accommodating families of different sizes.
Zip code 94513 experienced significant population growth from 2013 to 2022, increasing from 60,859 to 76,874 residents. The median income also rose during this period, from $103,920 in 2013 to $115,737 in 2022, signifying overall economic growth in the area.
The racial demographics in zip code 94513 have shifted notably. The white population decreased from 56% in 2013 to 46% in 2022. The Asian population increased from 7% to 14%, and the Black population grew from 4% to 9%. The Hispanic population remained relatively stable, changing from 26% to 25%. These demographic changes may influence future affordable housing needs and development.
No new LIHTC projects have been recorded in zip code 94513 since 2013, despite population growth and demographic changes. This lack of recent development could be attributed to various factors, including changes in local housing policies, land availability, or shifts in funding priorities.
Zip code 94513 maintains a modest LIHTC-funded affordable housing inventory, covering nearly 2% of its estimated housing stock. The area has received significant investment in affordable housing over two decades, providing a diverse range of unit types. However, recent years have not seen new LIHTC developments despite continued population growth and demographic shifts. The changing racial composition and increasing median income in the area may impact future affordable housing needs and development strategies in zip code 94513.
