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Affordable Housing in Irving, Texas: LIHTC Inventory 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
Irving, Texas, a city within the Dallas-Fort Worth metroplex, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 2,226 total units, with 1,606 designated as low-income units. This inventory represents approximately 2.28% of the estimated 97,591 housing units in Irving, based on the city's 2022 population of 254,712 and the national average household size. While this percentage is below the typical 15-20% target range for affordable housing, it is important to note that LIHTC is only one of several programs contributing to affordable housing in the city.
Irving's LIHTC portfolio consists of 18 projects, spanning over two decades. The earliest recorded LIHTC project, Treehouse Apts, was completed in 1988, while the most recent, Britain Way, was finished in 2011. The 1990s saw significant growth in LIHTC-funded projects, with multiple developments completed during this period. The inventory includes a diverse range of unit types: 54 efficiencies, 665 one-bedroom units, 691 two-bedroom units, 360 three-bedroom units, and 2 four-bedroom units, accommodating various household sizes within the low-income population.
Over the past decade, Irving has experienced steady population growth, increasing from 228,652 in 2013 to 254,712 in 2022, representing an 11.4% increase. This growth suggests a rising demand for housing, including affordable options. Concurrently, the median income in Irving has risen from $51,722 in 2013 to $78,326 in 2022, a 51.4% increase. Despite this overall income growth, the continued need for affordable housing indicates persistent income disparities within the community.
Irving's racial demographics have evolved over the past decade. The Hispanic population has remained relatively stable, comprising around 41-44% of the population. The Asian population has grown from 17% in 2013 to 23% in 2022, while the White population has decreased from 28% to 18% during the same period. The Black population has remained relatively stable at around 13-14%. These demographic shifts may influence the need for culturally sensitive affordable housing solutions.
Irving's LIHTC-funded affordable housing inventory, while representing a small portion of the estimated housing stock, provides crucial support for low-income residents. The city's LIHTC projects span over two decades, with significant development in the 1990s. The diverse unit types cater to various household sizes, reflecting the program's adaptability to community needs. While Irving has experienced population growth and rising median incomes over the past decade, the ongoing presence of LIHTC projects suggests a continued need for affordable housing options. The changing racial demographics of the city may also influence future affordable housing strategies to ensure they meet the evolving needs of Irving's diverse population.
