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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Liberty Hill, Texas, zip code 78642, has experienced significant growth and development in recent years. The Low-Income Housing Tax Credit (LIHTC) program has funded 151 affordable housing units in this zip code, all of which are designated as low-income units. This affordable housing inventory plays a crucial role in addressing the community's housing needs.
Based on the 2022 population of 20,209 and the national average household size of 2.61, the estimated housing inventory for this zip code is approximately 7,743 units. The 151 LIHTC-funded affordable housing units represent about 1.95% of the estimated housing stock, indicating that LIHTC-funded affordable housing covers a small portion of the zip code's housing inventory.
The zip code has three LIHTC-funded projects: San Gabriel Crossing, Liberty Manor, and Liberty Trails Townhomes. San Gabriel Crossing provides 76 units, including 12 one-bedroom, 32 two-bedroom, and 32 three-bedroom units. Liberty Trails Townhomes contributes 75 units to the affordable housing inventory. The presence of these projects suggests a commitment to providing diverse housing options for low-income residents in the area.
Liberty Trails Townhomes, completed in 2015, is notable for its target population of individuals with special needs. This project demonstrates an effort to address the unique housing requirements of vulnerable populations within the community.
Over the past decade, zip code 78642 has experienced substantial population growth, with the number of residents increasing from 9,684 in 2013 to 20,209 in 2022. This rapid growth may have contributed to the need for affordable housing options in the area.
The median income in the zip code has also seen an upward trend, rising from $92,245 in 2013 to $115,520 in 2022. Despite this increase, the presence of LIHTC-funded projects indicates an ongoing need for affordable housing options, particularly for lower-income households who may struggle to keep pace with rising housing costs.
Racial demographics in the zip code have shifted over the past decade. The white population has decreased from 83% in 2013 to 67% in 2022, while the Hispanic population has increased from 14% to 24% during the same period. The black population has also grown from less than 1% to 3%. These changes in racial composition may reflect broader demographic shifts in the region and could influence future affordable housing needs.
The LIHTC program has contributed to the affordable housing inventory in zip code 78642, providing 151 low-income units across three projects. While these units represent a small percentage of the estimated housing stock, they play a vital role in addressing the community's affordable housing needs. The area's rapid population growth, increasing median income, and changing racial demographics underscore the importance of continued attention to affordable housing initiatives. The presence of specialized housing for individuals with special needs demonstrates a commitment to addressing diverse housing requirements within the community.