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Affordable Housing Analysis in Zip Code 76950: A Decade of Demographic Shifts and Stable LIHTC Inventory
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 zip code 76950, located in Texas, encompasses an area of 1,445.11 square miles. This zip code contains 64 affordable housing units funded through the Low-Income Housing Tax Credit (LIHTC) program, all of which are designated as low-income units. Based on the 2022 population of 3,340 and using the national average household size of 2.61, there are approximately 1,280 housing units in the zip code. The LIHTC-funded affordable housing represents about 5% of the estimated housing inventory in this area.
LIHTC-funded affordable housing has been present in zip code 76950 since 1991, with the completion of the Sonora Seniors Apartments. The most recent project, Sonora Sage Apts, was completed in 2002, indicating over a decade of affordable housing development in the area. The 1990s saw the most affordable housing activity in this zip code.
The inventory consists of 64 total units across two projects. Of the available unit breakdown, there are 26 one-bedroom units and 6 two-bedroom units. This distribution suggests a focus on smaller household sizes in the LIHTC-funded developments within zip code 76950.
Over the past decade, the population in zip code 76950 has shown a decreasing trend, dropping from 3,987 in 2014 to 3,340 in 2022. Despite this population decline, the median income has remained relatively stable, fluctuating between approximately $51,000 and $71,000 during this period.
The racial composition of zip code 76950 has seen significant changes. The Hispanic population has increased from 58% in 2014 to 75% in 2022, while the white population has decreased from 41% to 24% during the same period. This shift in demographics could potentially influence future affordable housing needs and development in the area.
No new LIHTC projects have been built in zip code 76950 in the last decade. This could be due to various factors, including changes in local housing policies, funding availability, or shifts in housing demand within the zip code.
Zip code 76950 in Texas has a modest LIHTC-funded affordable housing inventory, covering about 5% of the estimated housing units. The area has seen two LIHTC projects completed between 1991 and 2002, primarily offering smaller unit sizes. While the population has decreased over the past decade, there have been significant shifts in racial demographics, with a growing Hispanic population. These demographic changes, coupled with the stable median income, may influence future affordable housing needs and development in this zip code.
