Over the past decade, the population in zip code 77040 has grown steadily, increasing from 45,768 in 2013 to 50,725 in 2022. The median income has fluctuated but remained relatively stable, ranging from $67,419 to $74,180 during this period. The racial distribution has shown shifts, with the Hispanic population increasing from 47% in 2013 to 52% in 2022, while the white population decreased from 32% to 23%. The Black population has remained relatively stable, ranging from 12% to 16%, and the Asian population has slightly increased from 6% to 8%.

These demographic changes, particularly the growth in population and the increase in Hispanic residents, may have influenced the need for affordable housing in the area. However, the lack of new LIHTC projects in recent years suggests that other factors, such as land availability or local housing policies, might be influencing affordable housing development.

Zip code 77040 in Houston has a modest LIHTC-funded affordable housing inventory, covering about 2.27% of the estimated housing units. The area has seen investment in affordable housing over at least two decades, with a mix of unit types to serve diverse household needs. While demographic shifts, including population growth and changes in racial composition, may influence affordable housing needs, the area has not seen new LIHTC projects in recent years. This analysis provides a factual overview of the LIHTC-funded affordable housing landscape in zip code 77040, contributing to the understanding of housing dynamics in the area.