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Galveston's LIHTC Program: A Longitudinal Study of Affordable Housing in a Coastal Texas City
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Galveston, a coastal city in Texas, possesses a notable Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city contains 930 total units in LIHTC-funded projects, with 852 specifically designated as low-income units. This comprises approximately 4.5% of the city's estimated housing inventory of 20,738 units.
Galveston has received $36,826 in project tax credits through the LIHTC program. With 17 approximate projects, this equates to an average of $2,166 in federal funding per project, or about $40 per unit across all LIHTC-funded units in the city. The city holds 3% of the total state LIHTC funding.
The first LIHTC projects in Galveston were completed in 1987, including Gregory Place, Old Catholic Diocese Building, University Gardens, UTMB Gardens, and Waldorf Apts. The most recent project, Champion Homes at Marina Landing, was completed in 2012. This indicates a 25-year span of LIHTC-funded affordable housing development in the city.
The 1980s witnessed the completion of the majority of affordable housing projects, with 14 out of the 17 projects finished during this decade. This suggests a significant emphasis on affordable housing development during that period.
The LIHTC-funded projects in Galveston include 146 one-bedroom units, 255 two-bedroom units, 86 three-bedroom units, and 38 four-bedroom units. This distribution indicates a focus on smaller households, with two-bedroom units being the most prevalent.
Over the past decade, Galveston's population has increased from 49,029 in 2013 to 54,125 in 2022, a growth of approximately 10.4%. During this same period, the median income rose from $45,332 in 2013 to $53,334 in 2022, a 17.7% increase.
The racial composition of Galveston has remained relatively stable. The white population increased slightly from 46% in 2013 to 50% in 2022. The Hispanic population has remained consistent at approximately 30%, while the Black population has decreased slightly from 18% to 15%.
No new LIHTC projects have been recorded since 2012. This could be attributed to various factors, including changes in local housing policies, shifts in funding priorities, or potentially a perceived reduction in the need for additional affordable housing units.
Galveston's LIHTC-funded affordable housing inventory represents a small but significant portion of the city's housing stock. The majority of these projects were developed in the 1980s, with a focus on smaller unit sizes. While the city has experienced moderate population growth and income increases over the past decade, there has not been a corresponding increase in LIHTC-funded projects. This analysis provides insight into the affordable housing landscape in Galveston, though it is important to note that other affordable housing programs may also contribute to the city's overall affordable housing inventory.
