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Analysis of Affordable Housing in Zip Code 79761: LIHTC-Funded Units in Odessa, 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
The zip code 79761 in Odessa, Texas, contains 140 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. These units comprise 1.15% of the estimated 12,165 housing units in the zip code, based on the 2022 population. All 140 units are designated as low-income.
Three LIHTC-funded projects exist in this zip code. The oldest project, Arbor Terrace Townhomes (Antiqua Terrace Apts), was completed in 2001, while Arbor Oaks Apts was finished in 2004. This indicates that affordable housing has been present in the zip code for over 20 years.
Arbor Terrace Townhomes is the largest project, offering 128 units. It provides 72 two-bedroom and 56 three-bedroom apartments, accommodating various family sizes. Arbor Oaks Apts contributes an additional 12 units to the affordable housing inventory.
The zip code has experienced demographic changes over the past decade. The population peaked at 34,133 in 2018 before decreasing to 31,750 in 2022. Median income has fluctuated, reaching $73,914 in 2016 and then declining to $62,815 in 2022.
Racial demographics have shifted notably. The Hispanic population increased from 55% in 2013 to 68% in 2022, while the white population decreased from 34% to 22% during the same period. The Black population has remained relatively stable at approximately 7-8%.
Despite these demographic changes, no new LIHTC projects have been developed in the last decade. This could be attributed to various factors, including changes in local housing policies, funding availability, or shifts in housing needs.
The 79761 zip code in Odessa has a modest LIHTC-funded affordable housing inventory, accounting for about 1.15% of the estimated housing stock. The existing projects, constructed in the early 2000s, offer a mix of two and three-bedroom units. While demographic shifts have occurred over the past decade, including population fluctuations and changes in racial composition, no new LIHTC projects have been added during this time. This analysis provides insight into the current state of LIHTC-funded affordable housing in the zip code, but it is important to note that other affordable housing programs may also contribute to meeting the area's housing needs.
