Loading Content...
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 76067, located in Mineral Wells, Texas, contains Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area has 271 total units in LIHTC-funded projects, with 163 designated as low-income units. Based on an estimated housing inventory of 7,835 units for the zip code, LIHTC-funded affordable housing represents approximately 3.46% of the total housing stock. This indicates that while LIHTC projects contribute to affordable housing, there may be potential for additional affordable housing options to meet community needs.
The LIHTC program has supported affordable housing in this zip code for nearly three decades. The earliest recorded project, Southridge Apts, was completed in 1992, while the most recent addition, Royal Gardens Mineral Wells, was finished in 2016. This 24-year span demonstrates a sustained commitment to affordable housing development in the area.
The 2010s marked a significant decade for LIHTC projects in this zip code, with two notable developments: Mineral Wells Pioneer Crossing in 2010 and Royal Gardens Mineral Wells in 2016. These projects expanded affordable housing options during this period. The LIHTC projects in this zip code offer a mix of housing options, including 101 one-bedroom units, 103 two-bedroom units, and 36 three-bedroom units. This range of unit sizes can accommodate various household compositions, from individuals to small families.
Over the past decade, zip code 76067 has experienced demographic shifts. The population has remained relatively stable, decreasing slightly from 20,653 in 2014 to 20,449 in 2022. Median income has shown a significant upward trend, rising from $46,849 in 2014 to $58,242 in 2022, representing a 24.3% increase.
Racial demographics have remained fairly consistent. The white population decreased slightly from 71% in 2014 to 68% in 2022, while the Hispanic population increased from 22% to 24% over the same period. The black population increased from 2% to 4%.
The stability in population coupled with rising median income might suggest a decreasing need for additional affordable housing. However, income growth may not benefit all segments of the population equally, and a significant portion of residents may still require affordable housing options.
Zip code 76067 has a modest LIHTC-funded affordable housing presence, with 271 total units representing about 3.46% of the estimated housing stock. The area has seen consistent development of LIHTC projects over nearly three decades, with the most recent additions in the 2010s. While the population has remained stable, the median income has increased significantly over the past decade. This economic growth, combined with the existing LIHTC inventory, contributes to the affordable housing landscape in the zip code. A comprehensive assessment of affordable housing needs would require consideration of additional factors and potential housing programs beyond LIHTC.