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Affordable Housing in San Marcos: LIHTC's Impact on a Growing Texas City
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
San Marcos, Texas, a city between Austin and San Antonio, has a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city has 2,255 total LIHTC units, with 1,824 designated as low-income units. Based on the 2022 population of 70,308 and an estimated 26,938 housing units, LIHTC-funded affordable housing units represent approximately 8.4% of the city's estimated housing inventory. This indicates a substantial contribution of LIHTC projects to the affordable housing stock in San Marcos.
San Marcos has received $92,579 in project tax credits through the LIHTC program. With approximately 13 projects, this translates to an average of $7,121 in federal funding per project. The average federal funding per unit is about $41. The city holds 0.08% of the total state LIHTC funding, suggesting that while San Marcos has a notable affordable housing presence, other Texas cities may have larger LIHTC portfolios.
Affordable housing development in San Marcos spans several decades. The earliest LIHTC projects, Country Oaks Apartments and River Oaks Villas, were completed in 1996. The most recent project with a known completion date is Sienna Pointe, finished in 2014. This 18-year span demonstrates a sustained commitment to affordable housing development in the city.
The early 2000s saw significant affordable housing activity in San Marcos. Notable projects from this period include Champions Crossings and Stone Brook Seniors (both completed in 2001), and Villas At Willow Springs (2002). The LIHTC-funded projects in San Marcos offer a diverse range of unit types. The inventory includes 204 one-bedroom units, 482 two-bedroom units, 407 three-bedroom units, and 51 four-bedroom units. This distribution suggests a focus on accommodating families of various sizes.
One project of note is Sienna Pointe, which targets individuals with special needs. This project likely offers specialized amenities and services to support its residents' unique requirements.
Demographic trends in San Marcos over the past decade reveal significant changes. The population has grown to 70,308 in 2022. The median income has increased from $36,080 in 2021 to $52,040 in 2022. This substantial income growth might influence future affordable housing needs and eligibility criteria.
Racial demographics for 2022 show a diverse community, with 48% Hispanic, 42% White, 4% Black, 2% Asian, and 4% identifying as two or more races. This diversity underscores the importance of culturally sensitive approaches in affordable housing development and management.
In conclusion, San Marcos has a substantial LIHTC-funded affordable housing inventory that contributes significantly to meeting the city's housing needs. The city has seen consistent development of affordable housing over nearly two decades, with a variety of unit types available. Recent demographic trends, including population growth and rising median income, may influence future affordable housing strategies in San Marcos. The city's diverse racial composition also highlights the importance of inclusive housing policies and practices.
