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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Balch Springs, Texas, demonstrates a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city's LIHTC program has produced 891 affordable housing units, with 827 designated as low-income units. Based on the estimated housing inventory of 16,805 units for the city's 2022 population, LIHTC-funded affordable housing comprises approximately 5.3% of the city's housing stock.
Balch Springs has received $850,235 in project tax credits for affordable housing through the LIHTC program. With approximately 6 projects, this translates to an average of $141,706 in federal funding per project. The average federal funding per unit is about $954. Balch Springs holds 0.73% of the total LIHTC funding allocated to Texas, indicating a significant contribution to the state's affordable housing efforts.
The city's LIHTC-funded housing inventory includes at least 84 one-bedroom units, 148 two-bedroom units, and 56 three-bedroom units, providing options for different household sizes. The earliest known LIHTC project in Balch Springs is the Villas of Hickory Estates, completed in 2001, while Spring Oaks Apartments was completed in 2006. This indicates that affordable housing initiatives have been present in the city for at least two decades.
Over the past decade, Balch Springs has experienced steady population growth, increasing from 36,611 in 2013 to 43,861 in 2022. The median income has also shown an upward trend, rising from $45,778 in 2013 to $56,810 in 2022. This economic growth may indicate an increased need for affordable housing options to ensure housing remains accessible to all income levels.
The racial demographics of Balch Springs have shifted slightly, with the Hispanic population increasing from 53% in 2013 to 61% in 2022, while the White population decreased from 24% to 16% during the same period. The Black population has remained relatively stable at around 21-23%. These demographic changes may influence the need for culturally sensitive affordable housing options.
Balch Springs has a significant LIHTC-funded affordable housing inventory, covering about 5.3% of the estimated housing stock. The city has received substantial federal funding for these projects, averaging $954 per unit. With a growing population and increasing median income, the need for affordable housing options may continue to be important. The changing racial demographics of the city may also influence future affordable housing initiatives to ensure they meet the needs of the diverse community.