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Affordable Housing in Zip Code 76063: LIHTC Developments Amidst Population Growth
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 76063 in Mansfield, Texas, contains 415 affordable housing units funded through the Low-Income Housing Tax Credit (LIHTC) program. These units, all designated as low-income, represent approximately 1.3% of the estimated 32,038 housing units in the zip code as of 2022.
The development of LIHTC-funded affordable housing in zip code 76063 spans multiple decades. The earliest recorded project, Mansfield Plaza Apartments, was completed in 1990, while Cedar Point Apartments was finished in 2003. This indicates at least 13 years of affordable housing development in the area. The 1990s saw the most activity in LIHTC-funded construction, with two projects completed during that decade.
The LIHTC-funded housing stock in zip code 76063 includes a variety of unit types, with 133 one-bedroom units and 88 two-bedroom units. This distribution suggests a focus on accommodating smaller households and families.
Zip code 76063 has experienced significant population growth over the past decade, increasing from 63,802 in 2013 to 83,620 in 2022, a 31% increase. During the same period, the median income rose from $102,238 to $107,820, a 5.5% increase.
The racial composition of zip code 76063 has become more diverse over the last decade. The white population decreased from 65% in 2013 to 52% in 2022, while the Black population increased from 13% to 22%. The Hispanic population grew slightly from 15% to 17%. These demographic shifts may indicate changing affordable housing needs in the community.
Despite population growth and demographic changes, there does not appear to have been new LIHTC-funded projects completed in zip code 76063 in the last decade. This could be due to various factors, including land availability, local zoning policies, or the relatively high median income potentially reducing the perceived need for additional affordable housing.
Zip code 76063 in Mansfield, Texas, has an established inventory of LIHTC-funded affordable housing, representing about 1.3% of the estimated housing stock. The area has experienced significant population growth and demographic changes over the past decade, with increasing diversity and a modest rise in median income. While the LIHTC-funded housing stock has not expanded recently, the existing units continue to provide affordable housing options in this growing community.
