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Affordable Housing in Zip Code 95054: Analysis of LIHTC-Funded 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
The zip code 95054 in Santa Clara, California, has a significant LIHTC-funded affordable housing inventory. This area contains 364 units in LIHTC-funded projects, with 351 designated as low-income units. Based on the 2022 population of 23,972 and an estimated 9,185 housing units, LIHTC-funded affordable housing comprises approximately 4% of the zip code's estimated housing inventory.
LIHTC projects in zip code 95054 have received $3,316,351 in project tax credits, averaging about $9,111 per unit in federal funding. This represents 0.11% of California's total LIHTC funding, indicating a modest but significant investment in affordable housing for this area. All LIHTC-funded projects in this zip code were completed in 2003, suggesting a concentrated effort to expand affordable housing options during that year.
The affordable housing inventory in zip code 95054 consists of a diverse mix of unit types. There are 146 efficiencies, 102 one-bedroom units, 15 two-bedroom units, 6 three-bedroom units, and 6 four-bedroom units. This distribution indicates a focus on accommodating smaller households and individuals.
Over the past decade, zip code 95054 has experienced some fluctuations in population, with a slight decrease from 25,339 in 2017 to 23,972 in 2022. Despite this, the median income has shown a general upward trend, rising from $148,156 in 2017 to $154,832 in 2022, with a peak of $164,980 in 2021.
The racial demographics in zip code 95054 have remained relatively stable, with Asian residents consistently comprising the majority (around 56-57% in recent years). The white population has slightly decreased from 24% in 2017 to 21% in 2022, while the Hispanic population has seen a small increase from 11% to 15% during the same period.
Zip code 95054 in Santa Clara demonstrates a focused effort in providing LIHTC-funded affordable housing, with all projects completed in 2003. While these units represent a small portion of the estimated housing inventory, they provide crucial affordable options in an area with high median incomes. The diverse unit mix caters to various household sizes, primarily focusing on smaller units. Despite population fluctuations and increasing median incomes over the past decade, the racial composition has remained relatively stable, with a slight increase in diversity.
