Loading Content...
Woodbridge, Irvine: Affordable Housing Inventory and Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Woodbridge, a neighborhood in Irvine, California, contains a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The area has 281 total units in LIHTC funded projects, with 280 designated as low-income units. Based on the 2022 population of 25,739 and using the national average household size, the estimated housing units in the neighborhood are approximately 9,862. The LIHTC funded affordable housing comprises about 2.85% of the estimated housing inventory in Woodbridge.
The LIHTC program has invested $1,494,987 in tax credits for affordable housing projects in Woodbridge. This equates to an average federal funding of approximately $5,320 per unit. The neighborhood has had LIHTC funded affordable housing projects since 1996, with the most recent project completed in 2005, indicating nearly a decade of affordable housing development.
Two notable projects in Woodbridge are the Inn At Woodbridge, completed in 1996, and Woodbridge Manor, finished in 2005. The 2000s saw the most affordable housing development in the neighborhood. The LIHTC funded projects in Woodbridge primarily consist of one-bedroom units, totaling 261. There are also 2 two-bedroom units, but no efficiencies, three-bedroom, or four-bedroom units reported.
Over the past decade, Woodbridge has experienced slight fluctuations in population, with an overall growth trend. The median income has shown an upward trajectory, rising from $105,484 in 2013 to $114,838 in 2022. This increase in median income may partially explain why no new LIHTC projects have been developed in recent years.
Regarding racial demographics, the neighborhood has undergone a gradual shift. The Asian population has remained relatively stable at approximately 27-29% over the past decade. The Hispanic population has grown from 7% in 2013 to 12% in 2022. The White population has decreased from 61% in 2013 to 52% in 2022. The Black population has remained consistent at about 1%.
Woodbridge's LIHTC funded affordable housing inventory, while present, covers a small percentage of the estimated housing stock. The neighborhood experienced LIHTC project development from the mid-1990s to mid-2000s, with a focus on one-bedroom units. Despite no recent LIHTC developments, the area has experienced population growth, increasing median income, and shifting racial demographics over the past decade. These factors provide context for understanding the affordable housing landscape in Woodbridge and may inform future housing policy decisions.
