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Affordable Housing in Zip Code 76082: LIHTC Program's Impact on Carter, 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
Carter, Texas, zip code 76082, has a population of 21,791 as of 2022. The Low-Income Housing Tax Credit (LIHTC) program has funded affordable housing in this area, contributing 40 total units, of which 4 are designated as low-income units. Based on the estimated housing inventory of 8,349 units, LIHTC-funded affordable housing covers approximately 0.48% of the zip code's housing stock.
The LIHTC program has invested $297,367 in tax credits for affordable housing projects in this zip code. This translates to an average federal funding of $7,434 per unit. The zip code holds 0.26% of the total state LIHTC funding, indicating a relatively small portion of Texas's overall affordable housing investment.
The only LIHTC-funded project in this zip code is Spring Garden V, completed in 2006. This suggests that affordable housing has been present in the area for at least 17 years. The project includes a mix of unit types, with 12 one-bedroom, 14 two-bedroom, and 14 three-bedroom units, providing diverse housing options for residents with varying needs.
Over the past decade, the zip code has experienced significant population growth, increasing from 17,174 in 2015 to 21,791 in 2022. This 26.9% growth may indicate an increasing demand for housing, including affordable options.
Median income has also risen, from $59,693 in 2015 to $74,135 in 2022, a 24.2% increase. Despite this growth, the need for affordable housing may persist for a portion of the population.
Racial demographics have remained relatively stable, with a slight decrease in the white population (from 89% in 2015 to 80% in 2022) and an increase in the Hispanic population (from 8% to 15%). This diversification may influence future affordable housing needs.
The LIHTC program has made a modest contribution to affordable housing in zip code 76082, with one project providing 40 units. While this represents a small percentage of the estimated housing stock, it is important to note that other affordable housing programs may also be present. The area has experienced significant population and income growth over the past decade, which may impact future affordable housing needs. As the community continues to evolve, ongoing assessment of housing affordability will be crucial to ensure that all residents have access to suitable housing options.
