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Affordable Housing Trends in Zip Code 90066: Limited LIHTC Inventory Amidst Population Changes
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 90066 zip code in Los Angeles, California, has a population of 53,821 as of 2022. This area contains 26 units in Low-Income Housing Tax Credit (LIHTC) funded affordable housing projects, with 25 designated as low-income units. Based on an estimated housing inventory of 20,621 units, LIHTC funded affordable housing comprises approximately 0.13% of the zip code's housing stock.
The LIHTC projects in zip code 90066 have received $873,827 in tax credits, averaging about $33,609 per unit. This zip code accounts for 0.03% of California's total LIHTC funding, indicating a relatively small portion of the state's affordable housing investment.
The initial LIHTC project in this area, Washington Court, was completed in 1997, while the most recent, Path Villas At Del Rey, was finished in 2015. This indicates that affordable housing has been present in the zip code for at least 18 years. The 2010s saw the most recent affordable housing development in this area.
The LIHTC funded projects in zip code 90066 primarily consist of one-bedroom units, with 22 such units available. There is also one two-bedroom unit. This unit distribution suggests a focus on housing for individuals or small families.
Over the past decade, the population in zip code 90066 has fluctuated, peaking at 59,141 in 2017 and decreasing to 53,821 by 2022. The median income has shown an overall upward trend, rising from $84,102 in 2013 to $89,468 in 2022, with some fluctuations in between.
Racial demographics have remained relatively stable, with the white population consistently representing the largest group at around 47-49% of the total. The Hispanic population has slightly decreased from 30% to 26%, while the Asian population has remained steady at about 14-15%. The Black population has seen a small increase from 4% to 5%.
Zip code 90066 has a limited LIHTC funded affordable housing inventory, covering a small fraction of its estimated housing stock. The area has seen sporadic development of affordable housing over the past two decades, with a focus on one-bedroom units. Despite the limited LIHTC presence, the area has experienced overall population growth and rising median incomes, suggesting a potentially changing demographic landscape that may influence future affordable housing needs.
