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Affordable Housing Landscape in Zip Code 75063: Three Decades of LIHTC Impact
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 75063 in Irving, Texas, contains 504 total units of Low-Income Housing Tax Credit (LIHTC) funded affordable housing, with 207 designated as low-income units. This represents approximately 3.1% of the estimated 16,113 housing units in the zip code. The area's affordable housing inventory includes two LIHTC-funded projects: Waterford At Valley Ranch and Valley Trails Apts, both completed in 1995.
The LIHTC-funded projects offer a mix of housing options: 116 one-bedroom units, 268 two-bedroom units, and 120 three-bedroom units. This distribution accommodates diverse household sizes, from individuals to small families. The 1990s marked the decade with the most affordable housing development in this zip code.
Zip code 75063 has experienced significant demographic changes over the past decade. The population has grown from 34,835 in 2013 to 42,054 in 2022, a 20.7% increase. Median income in the area has risen from $96,466 in 2013 to $106,698 in 2022. Despite this increase, the presence of LIHTC-funded housing suggests a continued need for affordable options.
The racial composition of zip code 75063 has undergone notable shifts. The Asian population has become the majority, increasing from 38% in 2013 to 57% in 2022. The white population has decreased from 33% to 18% during the same period. The Black and Hispanic populations have remained relatively stable at around 14% and 10% respectively. This demographic evolution may influence the area's housing needs and preferences.
Zip code 75063 in Irving, Texas, demonstrates a complex housing landscape. While LIHTC-funded affordable housing represents a small portion of the estimated housing stock, it provides crucial options for lower-income residents. The area's rapid population growth, rising median income, and shifting racial demographics present both challenges and opportunities for future affordable housing development. Ongoing assessment of housing needs will be essential to ensure a balanced and inclusive residential environment in this zip code.
