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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 95776 in Woodland, California has a substantial presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. This zip code covers an area of 104.08 square miles and had a population of 28,792 in 2022. The LIHTC inventory in this zip code consists of 610 total units, with 604 designated as low-income units. Based on an estimated 11,031 housing units in the zip code, LIHTC-funded affordable housing represents approximately 5.5% of the housing inventory.
The LIHTC program has invested $4,264,696 in tax credits for affordable housing projects in zip code 95776. This equates to an average federal funding of about $6,991 per unit. Notably, this zip code accounts for 0.14% of California's total LIHTC funding allocation.
Affordable housing has been a component of this community for over two decades. The initial LIHTC projects, Sycamore Pointe Apartments and Woodmark Apartments, were completed in 2000. The most recent addition, Mutual Housing at Spring Lake Phase II, was finished in 2019. The 2000s saw the highest level of affordable housing development, with three projects completed during this decade.
The LIHTC-funded units in zip code 95776 offer a range of housing options. There are 111 one-bedroom units, 192 two-bedroom units, 119 three-bedroom units, and 16 four-bedroom units. This variety accommodates different household sizes and needs within the community.
Over the past decade, zip code 95776 has experienced steady population growth, increasing from 23,779 in 2013 to 28,792 in 2022. This 21% population increase may have contributed to the continued development of affordable housing projects, with the most recent completed in 2019.
Median income in zip code 95776 has also risen significantly, from $71,730 in 2013 to $91,291 in 2022, representing a 27% increase. Despite this overall income growth, the continued development of LIHTC projects suggests an ongoing need for affordable housing options.
The racial composition of zip code 95776 has remained relatively stable over the past decade. The Hispanic population has consistently been the largest group, though decreasing slightly from 51% in 2013 to 45% in 2022. The Asian population has seen a slight increase from 10% to 11%, while the White population has remained stable at around 35%. This demographic makeup underscores the importance of providing affordable housing options to support various communities within the zip code.
Zip code 95776 in Woodland, California demonstrates a consistent commitment to affordable housing through the LIHTC program. With 610 total units, of which 604 are low-income, the program has made a significant impact on the local housing landscape. The steady development of LIHTC projects over two decades, coupled with population growth and increasing median income, suggests an ongoing recognition of the need for affordable housing options in this diverse community. LIHTC-funded units represent about 5.5% of the estimated housing inventory in zip code 95776, playing a crucial role in providing affordable options for residents in this growing area.