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Affordable Housing Inventory and Demographics in Zip Code 92647, Huntington Beach: 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
Zip code 92647 in Huntington Beach, California contains a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. This area encompasses 292 total units in LIHTC funded projects, with 288 designated as low-income units. The zip code covers approximately 7.72 square miles and had a population of 60,434 in 2022. Based on the national average household size, the estimated housing inventory is approximately 23,155 units. The LIHTC funded affordable housing represents about 1.26% of the estimated housing inventory in this zip code.
The LIHTC projects in zip code 92647 have received $2,294,577 in project tax credits, averaging $7,858 in federal funding per unit. This amount represents 0.07% of California's total LIHTC funding, indicating a small but notable contribution to the state's affordable housing efforts. Affordable housing has been present in this zip code since at least 2004, with the completion of the Hermosa Vista Apartments. The most recent project completed was the Huntington Villa Yorba Apartments in 2014, demonstrating a decade-long commitment to affordable housing development in the area.
The 2010s saw the highest number of affordable housing projects completed in this zip code. The inventory includes a diverse mix of unit types, with 8 efficiencies, 48 one-bedroom units, 211 two-bedroom units, and 7 three-bedroom units, accommodating various household sizes and needs. The Pacific Sun Apartments, completed in 2011, is a notable project that targets individuals with special needs, addressing a specific segment of the population requiring affordable housing support.
Over the past decade, zip code 92647 has experienced a slight increase in population, growing from 56,398 in 2010 to 60,434 in 2022. The median income has also risen significantly, from $81,594 in 2013 to $90,220 in 2022, potentially indicating a growing need for affordable housing options. The racial composition of the area has remained relatively stable, with a slight decrease in the white population (from 55% in 2013 to 51% in 2022) and small increases in Asian and Hispanic populations. This demographic shift may influence future affordable housing needs and planning.
Zip code 92647 in Huntington Beach has a modest but important LIHTC funded affordable housing inventory, covering about 1.26% of the estimated housing stock. The area has seen consistent development of affordable housing projects over a decade, with a mix of unit types to accommodate various household sizes. While the population and median income have grown, the racial composition has remained relatively stable. The presence of specialized housing, such as the Pacific Sun Apartments for individuals with special needs, demonstrates efforts to address diverse housing requirements in the community.
