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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The zip code 75442 in Texas, which includes Farmersville, contains 141 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. All of these units are designated as low-income units. Based on the 2022 population estimate, there are approximately 5,233 housing units in the zip code. LIHTC-funded affordable housing comprises about 2.69% of the total housing inventory in this area.
Four affordable housing projects in this zip code have been supported by the LIHTC program. The earliest known project, Shady Oaks Apartments, was completed in 1989. Oak Grove Apartments followed in 1999. This indicates that affordable housing has been present in this community for over 30 years. The 1990s saw the most LIHTC-funded housing development activity in this area.
The LIHTC-funded units in zip code 75442 consist of 24 one-bedroom units and 32 two-bedroom units. This distribution suggests a focus on accommodating smaller households and families.
The zip code has experienced significant population growth over the past decade, increasing from 10,370 in 2013 to 13,657 in 2022. The median income has also risen, from $63,443 in 2013 to $73,430 in 2022, indicating overall economic improvement in the area.
Racial demographics in zip code 75442 have shifted slightly. The white population decreased from 79% in 2013 to 70% in 2022. The Hispanic population grew from 12% to 22% during this period, suggesting increasing diversity. The black population has remained relatively stable at around 4-5%.
Despite population growth and demographic changes, there has not been a corresponding increase in LIHTC-funded affordable housing projects in recent years. This could be due to the rising median income, which might have reduced the perceived need for additional low-income housing.
The 75442 zip code has a modest LIHTC-funded affordable housing inventory, representing about 2.69% of the estimated total housing units. The area has experienced significant population growth and increased diversity over the past decade, along with rising median incomes. While existing LIHTC projects have provided a foundation of affordable housing since the late 1980s, the lack of recent developments may warrant further investigation into current affordable housing needs in light of the area's changing demographics and economic landscape.