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Affordable Housing in Greater Hobby Area: LIHTC Developments 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 Greater Hobby Area neighborhood in Houston, Texas, contains 316 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units, all of which are designated as low-income units. This represents approximately 3.27% of the neighborhood's estimated 9,670 housing units, based on the 2022 population of 25,238. The development of LIHTC funded affordable housing in the area spans nearly a decade, from 2003 to 2011.
LIHTC funded affordable housing development in the Greater Hobby Area occurred primarily in the 2000s. The largest project, Clearwood Villas, was completed in 2003 with 276 units. Sweetwater Point Apartments added 26 units in 2004, and Sterling Court Senior Residences contributed 14 units in 2011. These developments indicate a sustained effort to provide affordable housing options in the area over time.
The Greater Hobby Area has experienced demographic shifts over the past decade that may correlate with the LIHTC funded housing developments. The population has remained relatively stable between 2013 and 2022. The median income has increased overall from $55,269 in 2013 to $58,698 in 2022, with some fluctuations in between.
The racial composition of the neighborhood has changed notably. The Hispanic population has grown from 69% in 2013 to 79% in 2022. Conversely, the Black population has decreased from 16% to 12%, and the White population has slightly decreased from 9% to 6% during the same period. These demographic shifts may reflect changing housing needs in the area.
No new LIHTC projects have been completed in the neighborhood since 2011. This could be attributed to various factors, including changes in local housing policies, shifts in funding priorities, or a potentially reduced need for additional affordable housing units in the area.
The Greater Hobby Area neighborhood in Houston has a modest LIHTC funded affordable housing inventory, with 316 units representing about 3.27% of the estimated housing stock. The development of these affordable housing projects occurred primarily in the 2000s, with Clearwood Villas contributing significantly to the inventory. While there has been no new LIHTC development in recent years, the neighborhood has experienced demographic changes, including an increase in the Hispanic population and a rise in median income. These factors, along with other potential housing initiatives not captured in this data, may influence the current and future affordable housing landscape in the Greater Hobby Area.
