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Affordable Housing in McKinney, Texas Zip Code 75069: A Two-Decade LIHTC Program Analysis
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 75069 in McKinney, Texas contains a substantial inventory of affordable housing funded by the Low-Income Housing Tax Credit (LIHTC) program. This area has a total of 971 units in LIHTC-funded projects, with 707 of these units designated as low-income. Based on the 2022 population of 39,365 and an estimated 15,082 housing units, LIHTC-funded affordable housing comprises approximately 6.4% of the zip code's housing inventory.
The development of affordable housing in this zip code has been consistent over time. The earliest LIHTC project, Lakes of Eldorado, was completed in 1995, while the most recent, Newsome Homes, was finished in 2016. This indicates a more than two-decade presence of affordable housing in the area. The 2000s were particularly active for LIHTC development, with projects such as Country Lane Seniors Community (2000), Tuscany At Wilson Creek (2001), and Grand Reserve Seniors Community (2004) being completed.
LIHTC-funded projects in zip code 75069 offer a variety of unit types to accommodate different household sizes. There are 234 one-bedroom units, 195 two-bedroom units, and 56 three-bedroom units. This diverse mix suggests an effort to provide for various family compositions within the affordable housing stock.
Over the past decade, zip code 75069 has experienced steady population growth, increasing from 32,589 in 2013 to 39,365 in 2022. The median income has also risen significantly, from $57,002 in 2013 to $75,990 in 2022. This economic growth may explain the absence of new LIHTC projects since 2016, as rising incomes could potentially reduce the demand for affordable housing.
The racial composition of zip code 75069 has remained relatively stable. There has been a slight decrease in the Hispanic population (from 35% in 2013 to 29% in 2022) and a small increase in the Black population (from 7% to 11%). The White population has remained the majority, ranging between 50-55% throughout the decade.
Zip code 75069 in McKinney, Texas has a notable LIHTC-funded affordable housing presence, covering about 6.4% of the estimated housing inventory. The area has seen consistent development of affordable housing from 1995 to 2016, with a variety of unit types available. Population and median income have grown over the past decade, while the racial composition has remained relatively stable. These demographic trends may influence future affordable housing needs and development in the area.
