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Affordable Housing Analysis in Zip Code 78249: LIHTC Impact and Population Trends
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 78249 in San Antonio, Texas, has a population of 62,252 as of 2022. The area has seen development in affordable housing through the Low-Income Housing Tax Credit (LIHTC) program. There are 268 total units in LIHTC-funded projects, with 97 designated as low-income units. Based on an estimated housing inventory of 23,851 units, the LIHTC-funded affordable housing covers approximately 1.12% of the zip code's housing stock.
The LIHTC projects in this zip code have received $911,857 in tax credits, averaging about $3,402 per unit. This funding represents 0.78% of the total LIHTC credits allocated in Texas. Affordable housing has been present in this zip code for nearly two decades. The first LIHTC project, Babcock North Expansion, was completed in 2003, while the most recent, Artisan On The Bluff, was finished in 2006. The 2000s saw the most affordable housing development activity in this area.
The housing mix in LIHTC-funded projects includes 6 one-bedroom units, 112 two-bedroom units, and 78 three-bedroom units. This distribution suggests a focus on accommodating families and small households.
Over the past decade, the population in zip code 78249 has grown steadily, increasing from 51,147 in 2013 to 62,252 in 2022. This 21.7% growth may indicate an increasing demand for housing, including affordable options.
Median income in the area has fluctuated, starting at $71,693 in 2013, dipping to $64,505 in 2018, and rising again to $70,670 in 2022. These changes could influence the need for affordable housing in the community.
The racial composition of the zip code has also evolved. The Hispanic population has increased slightly from 48% in 2013 to 52% in 2022, while the White population decreased from 40% to 31% during the same period. The Asian and Black populations have remained relatively stable at around 7% and 6% respectively. This demographic shift might impact future affordable housing needs and planning.
Zip code 78249 in San Antonio has a modest LIHTC-funded affordable housing inventory, covering about 1.12% of the estimated housing stock. The area has seen two LIHTC projects completed in the early 2000s, providing 268 total units with 97 designated as low-income. The zip code has experienced significant population growth and demographic changes over the past decade, which may influence future affordable housing needs. The current LIHTC inventory provides a foundation for affordable housing in this growing and diverse community.
