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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 77662 in Texas covers an area of 150.76 square miles with an estimated population of 26,241 in 2022. This zip code contains Low-Income Housing Tax Credit (LIHTC) funded affordable housing, totaling 55 affordable units, all of which are low-income units. The LIHTC funded affordable housing represents approximately 0.55% of the zip code's estimated housing inventory of 10,054 units.
The LIHTC program has funded three projects in zip code 77662. The earliest project, Honeysuckle Court Apartments, was completed in 1996, while the most recent, Auburn Square, was completed in 2012. This indicates a 16-year presence of affordable housing in the zip code. Honeysuckle Court Apartments, completed in the 1990s, provides 47 units, including 24 one-bedroom and 23 two-bedroom units. Auburn Square, added in the 2010s, contributes 8 more units to the affordable housing stock. The completion date of the third project, Twelve Oaks Apartments, is unspecified.
Zip code 77662 has experienced demographic changes over the past decade. The population has remained relatively stable, decreasing slightly from 26,997 in 2013 to 26,241 in 2022. The median income has increased significantly, rising from $51,444 in 2013 to $68,792 in 2022, a growth of approximately 33.7%. The racial distribution has remained predominantly white, decreasing from 92% in 2013 to 87% in 2022. The Hispanic population has increased modestly from 5% to 7% during this period. The area has also seen a small increase in diversity, with the percentage of residents identifying as two or more races rising from less than 1% to 4% over the decade.
Zip code 77662 has an established LIHTC funded affordable housing inventory, with 55 low-income units across three projects. This represents approximately 0.55% of the estimated housing stock and has provided affordable housing options since the mid-1990s. The area has experienced economic growth, as evidenced by rising median incomes over the past decade, along with slight increases in racial diversity. These demographic shifts, combined with the stable population, suggest that the need for affordable housing may continue to evolve in this zip code.