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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
East Peralta, a neighborhood in Oakland, California, features Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area contains 92 affordable housing units, with 90 designated as low-income. Based on the 2022 population of 2,219 and the national average household size, East Peralta's estimated housing inventory is approximately 850 units. LIHTC funded affordable housing comprises about 10.8% of the neighborhood's estimated housing inventory, significantly contributing to the area's affordable housing supply.
The LIHTC program has invested $2,156,250 in tax credits for affordable housing projects in East Peralta. This equates to an average federal funding of approximately $23,437 per unit. The neighborhood's LIHTC funded affordable housing development spans nearly a decade, with the first project, Clinton Commons, completed in 2012, and the most recent, Camino 23, finished in 2019.
The 2010s witnessed the most affordable housing development in East Peralta, with both LIHTC projects completed during this decade. Clinton Commons, the larger project, provides 55 total units, including 54 low-income units. It offers a mix of one-bedroom to four-bedroom apartments, with 18 one-bedroom, 17 two-bedroom, 17 three-bedroom, and 3 four-bedroom units. Camino 23, completed in 2019, added 37 more units to the neighborhood's affordable housing inventory, including 36 low-income units. This project focuses more on smaller units, with 3 one-bedroom, 6 two-bedroom, and 1 three-bedroom apartments.
In total, the LIHTC funded projects in East Peralta provide 21 one-bedroom, 23 two-bedroom, 18 three-bedroom, and 3 four-bedroom units, offering a diverse range of housing options for different family sizes and needs.
Over the past decade, East Peralta has experienced significant demographic changes alongside its affordable housing developments. The neighborhood's population has grown from 1,285 in 2017 to 2,219 in 2022, an increase of about 73%. This population growth coincides with the completion of the Camino 23 project in 2019, suggesting a possible correlation between new affordable housing and population increase.
Median income in East Peralta has fluctuated, rising from $50,214 in 2017 to $53,826 in 2022. This moderate income growth, coupled with the significant population increase, may indicate a continued need for affordable housing in the area.
Regarding racial demographics, East Peralta has maintained a diverse population. The Asian community has remained the largest group, comprising 45% of the population in 2022, followed by Hispanic (20%) and Black (17%) residents. The completion of LIHTC projects appears to have supported the neighborhood's racial diversity, potentially providing housing opportunities for various demographic groups.
East Peralta's LIHTC funded affordable housing inventory plays a crucial role in meeting the neighborhood's housing needs, covering about 10.8% of the estimated housing stock. The two LIHTC projects, completed in 2012 and 2019, have contributed 92 affordable units to the area, with a diverse mix of unit sizes to accommodate different household needs. The neighborhood has experienced significant population growth and maintained its racial diversity over the past decade, coinciding with the development of these affordable housing projects. While median income has shown moderate growth, the continued population increase suggests an ongoing demand for affordable housing options in East Peralta.