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Affordable Housing in Zip Code 95012: LIHTC Investment and Farmworker-Focused Projects
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 95012, encompassing Elkhorn, California, exhibits a significant presence of affordable housing funded through the Low-Income Housing Tax Credit (LIHTC) program. This area contains 258 total units in LIHTC-funded projects, with 247 designated as low-income units. Based on the 2022 population of 10,965 and utilizing the national average household size, an estimated 4,201 housing units exist in the zip code. LIHTC-funded affordable housing comprises approximately 6.1% of the estimated housing inventory in this area.
The LIHTC program has made substantial investments in zip code 95012, with project tax credits totaling $8,259,558. This equates to an average federal funding of $32,014 per unit. Notably, this zip code accounts for 0.27% of California's total LIHTC funding, indicating a considerable investment in affordable housing for this area.
Affordable housing has been a consistent priority in zip code 95012, with projects spanning from 2001 to 2019. The 2010s witnessed the most activity, with three projects completed during this decade. Significant projects include El Cerrito Townhomes and Moro Lindo Townhomes, both completed in 2001, and the most recent addition, Castroville Farm Labor Center (FLC), completed in 2019.
The LIHTC-funded housing in zip code 95012 offers a diverse range of unit types, including 4 one-bedroom, 81 two-bedroom, 116 three-bedroom, and 15 four-bedroom units. This distribution suggests an emphasis on accommodating families of various sizes.
A notable project is the Castroville Farm Labor Center (FLC), which targets farmworkers. This specialized housing addresses the specific needs of agricultural workers in the area, potentially providing stable and affordable housing for a crucial workforce in the local economy.
Over the past decade, zip code 95012 has experienced fluctuations in population, with a peak of 11,732 residents in 2017 and a recent count of 10,965 in 2022. The median income has shown an upward trend, increasing from $68,292 in 2013 to $80,060 in 2022. This rise in median income may impact the demand for affordable housing.
The racial composition of zip code 95012 has remained relatively stable, with a significant Hispanic population consistently representing approximately 75-80% of residents. There has been a slight increase in diversity, with small growth in Asian, Black, and multiracial populations.
Zip code 95012 demonstrates a commitment to affordable housing through its LIHTC-funded projects. While the current inventory covers about 6.1% of the estimated housing units, it represents a significant investment in the community. The diverse unit types and targeted projects like the Castroville Farm Labor Center indicate efforts to meet varied housing needs. As the area continues to evolve demographically and economically, ongoing assessment of affordable housing needs will be crucial to maintain a balanced and inclusive community.
