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Affordable Housing in Zip Code 95757: Analysis of LIHTC Projects in Elk Grove, 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 95757 in Elk Grove, California, contains Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. The area has 744 total units in LIHTC-funded projects, with 542 designated as low-income units. Based on the 2022 population of 53,213 and an estimated 20,388 housing units, the LIHTC-funded affordable housing comprises approximately 3.65% of the zip code's housing inventory.
The LIHTC projects in zip code 95757 have received $4,481,078 in tax credits, averaging about $6,024 per unit. This funding represents 0.15% of California's total LIHTC allocation, indicating a modest investment in affordable housing for this area.
Affordable housing has been present in this zip code for over a decade. The first LIHTC project, Agave At Elk Grove, was completed in 2005, while the most recent, The Ridge Apts, was finished in 2012. The late 2000s saw the most activity, with two projects (Montego Falls Apts and Seasons) completed in 2009.
The LIHTC-funded housing in zip code 95757 offers a range of unit types. There are 186 one-bedroom units, 264 two-bedroom units, 50 three-bedroom units, and 12 four-bedroom units. This distribution accommodates various household sizes, from individuals to families.
Over the past decade, zip code 95757 has experienced population growth, increasing from 36,274 in 2010 to 53,213 in 2022. The median income has risen, reaching $109,905 in 2022. Despite this economic growth, the presence of LIHTC projects indicates a continued need for affordable housing options.
The racial composition of zip code 95757 has remained relatively stable, with a slight increase in Asian and Hispanic populations. As of 2022, the zip code is diverse, with 38% Asian, 22% White, 19% Hispanic, and 12% Black residents. This diversity may reflect the inclusive nature of the community and its housing options.
Zip code 95757 in Elk Grove, California, demonstrates a commitment to affordable housing through its LIHTC-funded projects. These units provide low-income housing options in an area with rising median incomes and a growing, diverse population. The distribution of unit types accommodates various household sizes and needs. As the area continues to grow, monitoring the balance between market-rate and affordable housing will be important for maintaining a diverse and inclusive community.
