Loading Content...
Affordable Housing Analysis in Zip Code 78114: Low-Income Housing Tax Credit Impact in Floresville, 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 78114 in Floresville, Texas, has a population of 23,976 as of 2022 and covers an area of 327.43 square miles. The Low-Income Housing Tax Credit (LIHTC) program has funded affordable housing projects in this zip code, contributing to its affordable housing inventory. There are 119 total units in LIHTC-funded projects, with 65 of these designated as low-income units. Based on the estimated housing inventory of 9,186 units, LIHTC-funded affordable housing covers approximately 1.3% of the zip code's housing stock.
The LIHTC projects in this zip code have received $139,958 in tax credits, averaging $1,176 per unit across all LIHTC-funded units. This zip code holds 0.12% of the total state LIHTC funding. Affordable housing has been present in the zip code since at least 2002, with the most recent project completed in 2007. The 2000s saw the most affordable housing development activity in this area.
The LIHTC-funded housing inventory in this zip code includes a mix of unit types, with 3 one-bedroom units, 36 two-bedroom units, and 4 three-bedroom units. This distribution suggests a focus on accommodating small to medium-sized households.
Over the past decade, the population in this zip code has grown from 19,815 in 2013 to 23,976 in 2022, representing a 21% increase. During this period, the median income rose from $65,796 in 2013 to $79,624 in 2022, a 21% increase. The racial distribution has remained relatively stable, with the Hispanic population consistently representing the largest group at around 51-53% of the total population, followed by the White population at 43-45%.
Despite the population growth and income increase, there have been no new LIHTC projects in the last decade. This could be due to various factors, including changes in local housing policies, availability of other affordable housing programs, or shifts in development priorities.
The LIHTC program has made a modest contribution to the affordable housing inventory in zip code 78114, with 119 total units, of which 65 are designated as low-income. This represents a small percentage of the estimated housing stock. The zip code has seen significant population growth and income increases over the past decade, which may influence future affordable housing needs and development strategies.
