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Affordable Housing in Zip Code 94523: LIHTC Investments and Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The zip code 94523 in Pleasant Hill, California, has a notable low-income housing tax credit (LIHTC) funded affordable housing inventory. This area contains 170 total units in LIHTC-funded projects, with 168 designated as low-income units. Based on the 2022 population of 34,436 and an estimated 13,194 housing units, the LIHTC-funded affordable housing comprises approximately 1.29% of the zip code's estimated housing inventory.
The LIHTC projects in zip code 94523 have received $2,124,635 in tax credits, averaging about $12,498 per unit. This funding represents 0.07% of California's total LIHTC allocations, indicating a modest investment in affordable housing for this area. Affordable housing has been present in this zip code for nearly two decades, with the first LIHTC project, Grayson Creek Apartments, completed in 2003, and the most recent addition, Hookston Senior Apartments, finished in 2019.
The housing mix in these LIHTC projects is diverse, with a total of 100 one-bedroom units, 44 two-bedroom units, and 26 three-bedroom units. This distribution accommodates various household sizes, from individuals to small families.
Over the past decade, zip code 94523 has experienced modest population growth, increasing from 33,526 in 2013 to 34,436 in 2022. Concurrently, the median income has risen from $99,100 in 2013 to $126,447 in 2022, suggesting an overall improvement in economic conditions.
Racial demographics have shifted, with the white population decreasing from 68% in 2013 to 56% in 2022. The Asian population has increased from 12% to 18% during the same period. The Hispanic population has remained relatively stable at around 14-15%.
The completion of Hookston Senior Apartments in 2019 aligns with the aging population trend observed in many areas, addressing the growing need for senior-specific affordable housing options.
Zip code 94523 demonstrates a consistent commitment to affordable housing through its LIHTC-funded projects. While these units represent a small percentage of the overall housing stock, they provide crucial affordable options in an area with rising median incomes. The diverse unit mix and the recent focus on senior housing reflect efforts to meet varied community needs. As the area continues to evolve demographically and economically, ongoing monitoring of affordable housing needs will be essential to maintain a balanced community.
