Loading Content...
Affordable Housing Analysis in Zip Code 77659: LIHTC Funded Units in Pinewood Estates, Texas
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 77659, located in Pinewood Estates, Texas, contains a total of 60 affordable housing units funded by the Low-Income Housing Tax Credit (LIHTC) program. These units are distributed across two LIHTC projects, representing the entirety of the affordable housing inventory in this rural community. All 60 units are designated as low-income units.
Based on the 2022 population of 5,486 and an estimated 2,102 housing units in the zip code, LIHTC funded affordable housing comprises approximately 2.86% of the estimated housing inventory. This percentage indicates that while LIHTC projects contribute to the affordable housing supply, they represent a relatively small portion of the overall housing stock in the area.
The LIHTC funded projects in zip code 77659 were developed over a period of nearly a decade. The first project, Lake Seniors, was completed in 1994, while the most recent, Sweetwater Apartments, was finished in 2002. This timeline suggests a consistent, albeit limited, commitment to affordable housing development in the area over time.
The 1990s saw the most affordable housing activity in this zip code, with Lake Seniors providing 36 units. Sweetwater Apartments, completed in 2002, added 24 more units to the affordable housing inventory. The breakdown of units shows a preference for smaller living spaces, with 44 one-bedroom units and 16 two-bedroom units across both projects.
Over the past decade, the population in zip code 77659 has shown modest growth, increasing from 4,385 in 2013 to 5,486 in 2022. This 25% population increase might indicate a growing need for housing in the area, including affordable options.
Median income in the zip code has fluctuated but generally increased over the same period, rising from $64,207 in 2013 to $74,233 in 2022. This 15.6% increase in median income could suggest improving economic conditions, but it may also indicate a growing disparity between market-rate housing costs and affordability for lower-income residents.
The racial composition of the zip code has remained relatively stable, with a slight decrease in the white population from 91% in 2013 to 85% in 2022. There has been a small increase in diversity, particularly in the Hispanic population, which grew from 4% to 10% during this period.
Despite these demographic changes, no new LIHTC projects have been developed in the last decade. This could be due to various factors, including changes in funding priorities, local zoning regulations, or a shift in housing needs assessment for the area.
Zip code 77659 in Pinewood Estates, Texas, has a modest LIHTC funded affordable housing inventory, comprising 60 units across two projects developed between 1994 and 2002. These units represent a small fraction of the estimated housing stock in the area. The housing mix favors smaller units, potentially catering to single residents or small families. While the population and median income have grown over the past decade, there has been no recent LIHTC development activity. This analysis provides insight into the affordable housing landscape of this rural Texas community, highlighting the historical contribution of LIHTC projects to the area's housing diversity.
