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Affordable Housing in Zip Code 94526: A Single LIHTC Project in Affluent Danville, 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 94526 in Danville, California, contains one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project. This project, named Sycamore Place, has 74 total units, with 73 designated as low-income units. The project contributes to the affordable housing inventory in an area characterized by high median income and a predominantly white population.
The estimated housing inventory for zip code 94526 is approximately 11,807 units, based on the 2022 population of 30,816 and the national average household size of 2.61. The LIHTC-funded affordable housing units represent about 0.63% of the estimated housing stock in the zip code.
The LIHTC project in this zip code received $584,881 in tax credits, averaging approximately $7,903 per unit. This funding represents 0.02% of the total LIHTC funding allocated to California. Sycamore Place, completed in 2003, consists of 68 one-bedroom units and 6 two-bedroom units, primarily serving smaller households or individuals.
The population in zip code 94526 has shown a slight increase from 29,811 in 2015 to 30,816 in 2022. The median income has also experienced a moderate rise, increasing from $157,412 in 2015 to $160,342 in 2022, indicating the area's continued affluence.
Racial demographics in zip code 94526 have undergone changes. The white population decreased from 81% in 2015 to 72% in 2022. The Asian population increased from 11% to 15%, and the Hispanic population from 5% to 8% during the same period. This gradual diversification may suggest changing housing needs in the area.
No new LIHTC projects have been developed in zip code 94526 in the last decade. This lack of development could be attributed to the area's high median income and the relatively small percentage of the population that might qualify for affordable housing based on typical income thresholds for such programs.
Zip code 94526 in Danville, California, contains one LIHTC-funded affordable housing project, Sycamore Place, completed in 2003. This project provides 74 units, primarily one-bedroom apartments, contributing to about 0.63% of the estimated housing stock in the area. Despite slight increases in population and median income over the past decade, along with gradual racial diversification, no new LIHTC projects have been developed. The high median income of the area may contribute to the limited presence of LIHTC-funded affordable housing in this zip code.
