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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zilker, a neighborhood in Austin, Texas, is situated near Zilker Park. The neighborhood's Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory comprises 134 total units, with 25 designated as low-income units. Based on the estimated housing inventory of 3,501 units for the neighborhood's 2022 population, LIHTC funded affordable housing represents approximately 3.8% of the neighborhood's housing stock.
The LIHTC program has supported three projects in Zilker: Autumn Ridge Apt, Pathways At Goodrich Place, and Zilker Studios. The earliest known project completion date is 1989 for Autumn Ridge Apt, indicating that affordable housing has been present in the neighborhood for at least 34 years.
The distribution of units in LIHTC funded projects includes 47 one-bedroom units, 54 two-bedroom units, 17 three-bedroom units, and 5 four-bedroom units. This mix of unit sizes suggests an effort to accommodate various household sizes and needs within the affordable housing stock.
Over the past decade, Zilker has experienced significant population growth, increasing from 5,178 residents in 2013 to 9,137 in 2022, representing a 76% increase. Concurrently, the median income has risen from $83,998 in 2013 to $129,542 in 2022, a 54% increase.
The racial composition of Zilker has remained relatively stable, with a slight decrease in the white population from 83% in 2013 to 76% in 2022. The Hispanic population has increased from 13% to 16% during this period. The Asian population has grown from 1% to 4%, while other racial groups have maintained relatively constant proportions.
Despite the population growth and rising median income, there does not appear to have been a significant increase in LIHTC funded affordable housing projects in the last decade. This could be due to the neighborhood's rapidly increasing property values and median income, which may have made it more challenging to develop new affordable housing projects.
Zilker's LIHTC funded affordable housing inventory comprises a small portion of the neighborhood's estimated housing stock at 3.8%. The neighborhood has experienced substantial population growth and income increases over the past decade. While the racial composition has remained relatively stable, there has been a slight increase in diversity. The lack of recent LIHTC projects, despite population growth, may reflect the challenges of developing affordable housing in an increasingly affluent area.