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Affordable Housing in Austin's RMMA Neighborhood: LIHTC Projects and Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The RMMA neighborhood in Austin, Texas, possesses a substantial LIHTC-funded affordable housing inventory. This area contains 372 total units in LIHTC-funded projects, with 336 designated as low-income units. Given the estimated 2,636 housing units in the neighborhood, LIHTC-funded affordable housing represents approximately 14.1% of the neighborhood's housing inventory, approaching the target percentage for a well-balanced community.
The RMMA neighborhood features two LIHTC-funded projects: Aldrich 51 and Jordan At Mueller. Aldrich 51, completed in 2017, is the most recent addition to the affordable housing inventory, contributing 240 units, with 204 designated as low-income units. The affordable housing inventory in RMMA offers diverse unit types, accommodating various household sizes. The unit distribution includes 38 efficiencies, 91 one-bedroom units, 169 two-bedroom units, and 11 three-bedroom units, primarily focusing on small to medium-sized households.
Over the past decade, the RMMA neighborhood has experienced significant population growth, increasing from 1,172 residents in 2010 to 6,879 in 2022. This rapid growth coincides with the development of affordable housing projects like Aldrich 51. The median income in the neighborhood has also seen a substantial increase, rising from $75,031 in 2013 to $108,711 in 2022. Despite this growth in overall income, the presence of LIHTC-funded housing ensures that lower-income residents can still find affordable options in the area.
Racial demographics have shifted over the years, with the white population increasing from 57% in 2013 to 60% in 2022. The Hispanic population has decreased from 29% to 19% during the same period, while the Asian population has grown from 2% to 11%. These changes in racial composition may reflect broader demographic shifts in the Austin area and could influence future affordable housing needs.
The RMMA neighborhood in Austin has made notable progress in providing affordable housing through LIHTC-funded projects. With 14.1% of its estimated housing inventory dedicated to affordable units, the neighborhood is approaching the target range for a well-balanced community. The diverse unit types offered cater to various household sizes, with a focus on one and two-bedroom apartments.
The neighborhood's rapid population growth and increasing median income highlight the importance of maintaining and potentially expanding affordable housing options. As the area continues to develop, monitoring demographic trends and adjusting affordable housing strategies will be crucial to ensure that the neighborhood remains accessible to residents across various income levels.
