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Affordable Housing in Zip Code 75025: LIHTC Projects in Plano, Texas
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 75025 in Plano, Texas, contains a population of 56,499 as of 2022. The Low-Income Housing Tax Credit (LIHTC) program has funded several affordable housing projects in this area. The zip code has 205 units in LIHTC-funded projects, with 59 designated as low-income units. Based on an estimated housing inventory of 21,647 units, LIHTC-funded affordable housing comprises approximately 0.95% of the zip code's housing stock.
The LIHTC projects in zip code 75025 have received $649,878 in tax credits, averaging about $3,170 per unit when distributed across all 205 LIHTC-funded units. This zip code accounts for 0.56% of the total LIHTC funding allocated to Texas.
Affordable housing has been present in this zip code since at least 1995, with the completion of Garden Gate Apartments. The most recent project with available data is Tuscany Villas, completed in 2011, indicating at least 16 years of affordable housing development in the area. The 2000s saw the most activity in LIHTC-funded projects, with two developments completed during this decade.
The LIHTC-funded housing in zip code 75025 offers a mix of unit types, with a focus on two-bedroom units (140), followed by three-bedroom units (32), and one-bedroom units (20). This distribution suggests a focus on accommodating small to medium-sized families.
Over the past decade, zip code 75025 has experienced moderate population growth, increasing from 54,206 in 2013 to 56,499 in 2022. The median income has also risen significantly, from $119,508 in 2013 to $129,477 in 2022, indicating a generally affluent area.
The racial composition of zip code 75025 has shifted noticeably. The Asian population has increased from 27% in 2013 to 35% in 2022, while the White population has decreased from 56% to 41% during the same period. The Hispanic and Black populations have also seen slight increases.
Despite the rising median income, the presence of LIHTC projects suggests a continued need for affordable housing options in zip code 75025. The demographic shifts, particularly the increase in minority populations, may indicate changing housing needs and preferences in the area.
Zip code 75025 in Plano, Texas, has a small but established affordable housing presence through the LIHTC program. With 205 total units, including 59 low-income units, these projects contribute to housing diversity in an area characterized by high median incomes and significant demographic changes. The LIHTC investments, while modest compared to the overall housing stock, represent an ongoing commitment to providing affordable options in this dynamic and evolving community.
