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Affordable Housing Trends in Zip Code 95382: Two Decades of LIHTC Impact in Turlock, 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 95382 in Turlock, California has a population of 38,680 as of 2022 and covers an area of 11.47 square miles. The Low-Income Housing Tax Credit (LIHTC) program has funded 366 affordable housing units in this zip code, with 363 of these designated as low-income units. Based on an estimated housing inventory of 14,820 units, the LIHTC-funded affordable housing covers approximately 2.47% of the zip code's housing stock.
The LIHTC projects in this zip code have received $1,019,618 in tax credits, averaging about $2,786 per unit in federal funding. This zip code accounts for 0.03% of the total LIHTC funding allocated to California. The first LIHTC project in this zip code, Lake Park Apartments, was completed in 1999, while the most recent, Cherry Tree Village, was finished in 2002. This indicates that affordable housing has been present in the area for over two decades.
The affordable housing inventory consists of 148 one-bedroom units, 168 two-bedroom units, 41 three-bedroom units, and 9 four-bedroom units. This mix caters to various household sizes and needs within the community.
Over the past decade, the population in this zip code has grown from 37,080 in 2013 to 38,680 in 2022. The median income has fluctuated, reaching $83,208 in 2021 before decreasing to $73,246 in 2022. Racial demographics have shifted. The Hispanic population has increased from 23% in 2013 to 34% in 2022, while the white population has decreased from 61% to 49% during the same period. The Asian population has remained at around 8%, while the Black population has increased from 1% to 3%.
The LIHTC program has contributed to the affordable housing stock in zip code 95382, providing 366 units that serve approximately 2.47% of the estimated housing inventory. The projects were completed between 1999 and 2002, suggesting a need for updated affordable housing initiatives. The demographic shifts, particularly the growth in the Hispanic population and the recent fluctuations in median income, may indicate evolving housing needs in the community. Further analysis of current housing demands and additional affordable housing programs would be necessary to fully assess the area's low-income housing landscape.
