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Affordable Housing in Freeport, Texas: LIHTC Funding 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
Freeport, Texas, has incorporated Low-Income Housing Tax Credit (LIHTC) funded affordable housing into its residential landscape. The city's LIHTC inventory comprises 288 total units, of which 214 are designated as low-income units. This affordable housing stock represents approximately 5.8% of Freeport's estimated 4,925 housing units.
Freeport has received $830,018 in project tax credits through the LIHTC program. With three projects, this amounts to an average of $276,673 in federal funding per project. The average federal funding per unit is $2,882. Freeport's allocation accounts for 0.71% of Texas' total LIHTC funding, a significant proportion for a city of its size.
The development of affordable housing in Freeport spans from 1998 to 2013, with Casa Quintana as the initial project and Villa Brazos as the most recent. This 15-year period indicates a sustained effort in affordable housing development. The 2000s marked the most active period for LIHTC projects, with Freeport Oaks Apartments completed in 2006.
The unit distribution within the LIHTC inventory consists of 2 one-bedroom units, 69 two-bedroom units, and 109 three-bedroom units. This distribution suggests a focus on accommodating families and larger households in the affordable housing stock.
Freeport's population has fluctuated over the past decade, reaching a peak of 14,594 in 2018 and decreasing to 12,855 by 2022. The median income has also varied, with a high of $51,231 in 2016 and a decrease to $46,742 in 2022. These economic changes may have influenced the demand for affordable housing.
The racial demographics of Freeport have evolved. The Hispanic population remains the largest group but has decreased from 60% in 2017 to 49% in 2022. The white population has increased slightly from 25% to 33%, while the Black population has grown from 10% to 16% during this period. These shifts in racial composition may impact the diverse housing needs of the community.
Freeport's LIHTC-funded affordable housing represents a small but significant portion of its housing inventory. The city has consistently developed affordable housing projects over a 15-year period, with an emphasis on family-sized units. While the LIHTC inventory covers about 5.8% of the estimated housing units, recent demographic shifts and economic fluctuations may influence future affordable housing needs in Freeport.
