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Affordable Housing Trends in Houston's Zip Code 77070: A Three-Decade Analysis
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 77070 in Houston, Texas, demonstrates a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. This area contains 898 total units in LIHTC-funded projects, with 700 designated as low-income units. Based on the 2022 population of 58,099 and estimated 22,260 housing units, LIHTC-funded affordable housing represents approximately 4% of the zip code's housing inventory.
The LIHTC projects in zip code 77070 have received $607,599 in project tax credits, averaging about $677 per unit in federal funding. This represents 0.52% of the total LIHTC funding allocated to the state of Texas, indicating a notable concentration of affordable housing investment in this area.
Affordable housing has been present in zip code 77070 for nearly three decades. The first LIHTC project, Willow Green Apartments, was completed in 1995, while the most recent, Orchard At Oak Forest, was finished in 2011. The 2000s saw the most activity in affordable housing development, with three projects completed during this decade: Wellington Park Apartments (2005), Fairlake Cove Apartments (2006), and Orchard At Oak Forest (2011).
The LIHTC-funded housing in zip code 77070 offers a diverse range of unit types. There are 222 one-bedroom units, 288 two-bedroom units, and 72 three-bedroom units, catering to various household sizes and needs.
Over the past decade, zip code 77070 has experienced significant population growth, increasing from 47,422 in 2013 to 58,099 in 2022. This 22.5% population increase may have contributed to the need for affordable housing options.
Median income in zip code 77070 has fluctuated, starting at $77,745 in 2013, peaking at $83,000 in 2021, and then decreasing to $73,669 in 2022. This recent decline in median income could indicate an increasing need for affordable housing options.
The racial demographics of zip code 77070 have shifted notably. The white population decreased from 52% in 2013 to 36% in 2022, while the Hispanic population increased from 22% to 32%. The Black population also increased from 13% to 19%. This diversification of the population may have influenced the demand for various types of affordable housing.
Zip code 77070 in Houston, Texas, has a substantial LIHTC-funded affordable housing presence, with 898 total units and 700 low-income units. These projects represent a significant investment in affordable housing, accounting for about 4% of the estimated housing inventory. The area has seen consistent development of affordable housing from 1995 to 2011, with the most activity occurring in the 2000s. The demographic trends, including population growth, fluctuating median income, and increasing racial diversity, align with the ongoing need for affordable housing options in this zip code.
