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Affordable Housing in Athens, Texas: A Three-Decade LIHTC Commitment
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Athens, Texas, has a notable presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The city's LIHTC inventory comprises 270 total units, with 266 designated as low-income units. Based on the 2022 population of 21,060 and an estimated 8,069 housing units, the LIHTC-funded affordable housing represents approximately 3.3% of the city's housing stock.
Athens has received $436,940 in project tax credits for affordable housing through the LIHTC program. With approximately 6 projects, this translates to an average of $72,823 in federal funding per project, or $1,618 per unit. The city holds 0.38% of the total state LIHTC funding, indicating a modest but significant contribution to Texas's affordable housing efforts.
The LIHTC program has been active in Athens since 1989, with the Fairview South Apts being the first project completed. The most recent project, The Oaks of Fairview, was completed in 2017, demonstrating nearly three decades of affordable housing development in the city. The 2000s saw the most activity, with projects like Gardens of Athens (2005) and Victoria Place Phase II (2007) being completed.
The LIHTC-funded housing in Athens primarily consists of one-bedroom units, with 106 such units available. Additionally, there are 14 two-bedroom units and 16 three-bedroom units, providing a range of options for different household sizes.
Over the past decade, Athens has experienced slight fluctuations in population, with a general trend of modest growth. The median income has shown an overall increase, rising from $47,383 in 2013 to $49,201 in 2022, with some year-to-year variations.
Regarding racial demographics, the city has maintained a relatively stable composition. The white population has slightly decreased from 62% in 2013 to 58% in 2022, while the Hispanic population has grown from 21% to 25% during the same period. The Black population has remained relatively steady at around 11-13%.
Athens' LIHTC-funded affordable housing inventory represents a small but important portion of the city's housing stock. The city has consistently developed affordable housing projects over the past three decades, with a focus on one-bedroom units. The percentage of affordable housing is below the ideal target of 15-20%. The demographic trends show a slowly diversifying population and a gradually increasing median income, which may influence future affordable housing needs in the city.
