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Affordable Housing in Washington Avenue Coalition - Memorial Park: LIHTC Impact 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
Washington Avenue Coalition - Memorial Park, a neighborhood in Houston, Texas, combines residential and commercial areas. The Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory in this neighborhood comprises 377 total units, with 285 designated as low-income units. This represents approximately 2.59% of the estimated 14,560 housing units in the neighborhood.
The LIHTC program has contributed to affordable housing in this area since at least 1998, with the completion of the Memorial Drive Elderly Lp project. The most recent project with a known completion date is Elder Street Lofts, finished in 2005. This indicates a two-decade presence of affordable housing in the neighborhood.
The LIHTC funded units in the neighborhood include 5 efficiencies, 207 one-bedroom units, 5 two-bedroom units, and 4 three-bedroom units. The predominance of one-bedroom units suggests a focus on housing for individuals or small families.
The neighborhood has experienced significant population growth, increasing from 26,515 in 2013 to 38,001 in 2022. Concurrently, the median income has risen from $129,981 in 2013 to $140,749 in 2022. This upward trend in both population and income may indicate a growing demand for housing in the area.
The racial composition of the neighborhood has changed over the past decade. The percentage of white residents decreased from 60% in 2013 to 56% in 2022, while the Asian population increased from 6% to 12%. The Hispanic population decreased from 26% to 19%, and the Black population increased from 3% to 7%. These changes indicate a gradually diversifying neighborhood.
Despite the population growth and income increase, there appears to be no significant recent LIHTC development. This could be due to various factors, including land availability, local policies, or other affordable housing initiatives not captured in this data.
The Washington Avenue Coalition - Memorial Park neighborhood has a modest LIHTC funded affordable housing inventory, covering about 2.59% of the estimated housing units. The majority of these affordable units are one-bedroom, suggesting a focus on smaller households. While the neighborhood has experienced significant population growth and increasing median income over the past decade, there has not been notable recent LIHTC development. The changing demographics, particularly the increasing diversity, may influence future affordable housing needs in the area. A comprehensive understanding of the neighborhood's affordable housing situation would require consideration of other housing programs and initiatives beyond LIHTC.
