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Affordable Housing Analysis in Zip Code 78735: A Decade of Stable Growth and Modest LIHTC Inventory
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 78735, located in Austin, Texas, encompasses an area of 18.85 square miles. This zip code contains 160 units in Low-Income Housing Tax Credit (LIHTC) funded affordable housing projects, with 16 units designated as low-income. Based on the 2022 population of 19,274 and the national average household size of 2.61, the estimated number of housing units in this zip code is approximately 7,385. LIHTC funded affordable housing represents about 2.17% of the estimated housing inventory in this area.
Two LIHTC funded projects exist in zip code 78735: Southwest Trails, completed in 2001, and Live Oak Trails, completed in 2016. This indicates the presence of affordable housing in the area for over two decades, with the most recent development occurring in the 2010s. The inventory of LIHTC funded housing in this zip code includes 12 one-bedroom units, 96 two-bedroom units, and 52 three-bedroom units, suggesting a focus on accommodating small to medium-sized families.
The population in zip code 78735 has grown from 16,445 in 2013 to 19,274 in 2022, representing a 17.2% increase. The median income has remained relatively stable, fluctuating between $107,319 in 2013 and $107,841 in 2022, with some variations in between. Racial demographics have shown changes, with the white population decreasing from 73% in 2013 to 66% in 2022, while the Hispanic population increased from 16% to 20%, and the Asian population grew from 7% to 7% during the same period. The Black population remained relatively stable at 2%.
Despite population growth and slight changes in racial composition, there has not been a significant increase in LIHTC funded affordable housing projects in recent years. This may be attributed to the relatively high median income in the area, potentially reducing the perceived need for additional low-income housing.
Zip code 78735 in Austin, Texas, has a modest LIHTC funded affordable housing inventory, representing about 2.17% of the estimated housing units. The area has experienced population growth and slight demographic shifts over the past decade, but the median income has remained relatively high. The existing LIHTC projects, completed in 2001 and 2016, provide a mix of unit sizes, primarily catering to small and medium-sized households. While the affordable housing inventory has not expanded significantly in recent years, it is important to note that other affordable housing programs may be present in the area, contributing to the overall affordable housing landscape.
