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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Georgetown, Texas, a city in Williamson County, has implemented affordable housing through the Low-Income Housing Tax Credit (LIHTC) program. The city's LIHTC-funded affordable housing inventory comprises 1,615 total units, with 1,138 designated as low-income units. This represents approximately 4.9% of the city's estimated housing stock of 33,144 units.
Georgetown has received $1,384,849 in project tax credits through the LIHTC program. With 13 projects, the average federal funding per project is $106,527, and the average federal funding per unit is $857. Georgetown holds 1.19% of the total state LIHTC funding, indicating its contribution to Texas's affordable housing efforts.
The city's LIHTC-funded affordable housing development spans 25 years, beginning in 1993 with the Northwest Apartments. The most recent completed projects, Live Oak Apartments and Kaia Pointe, were finished in 2018. This demonstrates Georgetown's long-term commitment to affordable housing development.
The 2000s saw significant affordable housing activity, with projects such as Cypress Creek At River Bend and San Gabriel Senior Village completed in 2007, and San Gabriel Apts in 2013. This trend continued into the 2010s with Georgetown Square Apartments (2015) and the aforementioned 2018 projects.
Georgetown's LIHTC-funded affordable housing inventory includes a range of unit types: 24 efficiencies, 287 one-bedroom units, 450 two-bedroom units, 145 three-bedroom units, and 8 four-bedroom units, accommodating various household sizes and needs. The Gateway Northwest project targets a special needs population, indicating a focus on housing for vulnerable groups with specific requirements.
Georgetown's population has grown significantly, increasing from 67,137 in 2016 to 86,505 in 2022, a 28.8% surge. This growth correlates with the continued development of affordable housing projects. The median income has also risen substantially, from $67,379 in 2016 to $97,533 in 2022, a 44.8% increase.
Racial demographics have shifted, with the Hispanic population decreasing from 33% in 2021 to 20% in 2022, while the white population increased from 60% to 66% in the same period. The Asian population increased from 1% to 4%. These demographic changes may impact future affordable housing needs and target populations.
Georgetown's LIHTC-funded affordable housing inventory represents a significant effort to provide low-income housing options. With 1,615 total units and $1,384,849 in project tax credits, the city has consistently developed affordable housing over the past 25 years. The diverse range of unit types and the inclusion of special needs housing demonstrate a comprehensive approach to meeting various community needs. As Georgetown continues to experience population growth and demographic shifts, ongoing assessment and development of affordable housing will be crucial to meet the evolving needs of its residents.