Loading Content...
Affordable Housing in Zip Code 94530: A Long-term Commitment to LIHTC Projects
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 94530 in El Cerrito, California, exhibits a diverse Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The area contains 291 total units in LIHTC funded projects, with 180 of these designated as low-income units. Based on the 2022 population of 27,581 and an estimated 10,567 housing units, the LIHTC funded affordable housing covers approximately 2.75% of the zip code's estimated housing inventory.
The LIHTC program has invested significantly in this zip code, with project tax credits totaling $3,152,221. This translates to an average federal funding of about $10,832 per unit in LIHTC funded projects. Notably, this zip code accounts for 0.1% of the total state LIHTC funding, indicating a modest but meaningful contribution to California's affordable housing efforts.
Affordable housing has been a long-standing feature of this zip code, with projects spanning from 1992 to 2018. The earliest project, Del Norte Place, was completed in 1992, while the most recent, Hana Gardens, was finished in 2018. This 26-year span demonstrates a consistent commitment to affordable housing in the area. The 2010s saw the most activity, with three out of four projects completed during this decade.
The LIHTC funded projects in this zip code offer a variety of unit types. The inventory includes 92 one-bedroom units, 46 two-bedroom units, and 18 three-bedroom units, catering to different household sizes and needs. One notable project, Arbors Apts (Richmond), completed in 2009, targets the "At-Risk" population, potentially addressing the needs of vulnerable community members who may require additional support services or specialized housing arrangements.
Over the past decade, zip code 94530 has experienced steady population growth, increasing from 24,799 in 2010 to 27,581 in 2022. This growth coincides with the completion of three LIHTC projects during this period, suggesting a response to increased housing demand. The median income in the zip code has also risen significantly, from $94,749 in 2013 to $115,666 in 2022. Despite this overall increase in wealth, the continued development of affordable housing projects indicates an ongoing need for low-income housing options in the community.
Racial demographics have remained relatively stable, with a slight increase in the Asian population (from 25% in 2013 to 29% in 2022) and a small decrease in the White population (from 49% in 2013 to 45% in 2022). The Hispanic population has stayed consistent at around 11-14%. These demographic shifts may have influenced the planning and targeting of LIHTC projects to ensure diverse community needs are met.
Zip code 94530 demonstrates a consistent commitment to affordable housing through the LIHTC program, with projects spanning nearly three decades. While LIHTC funded units represent a small percentage of the total estimated housing inventory, they provide crucial low-income housing options in an area with rising median incomes. The variety of unit types and targeted populations in these projects reflects efforts to address diverse housing needs within the community. As the area continues to grow and evolve demographically, the role of LIHTC funded housing remains significant in maintaining a balanced and inclusive community.
