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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Lewisville, Texas, has implemented a Low-Income Housing Tax Credit (LIHTC) program to address affordable housing needs. The program has contributed 880 total units, with 779 designated as low-income units. This inventory represents approximately 1.75% of the city's estimated 50,166 housing units. The LIHTC program is one of several initiatives contributing to affordable housing in Lewisville.
The development of LIHTC-funded projects in Lewisville spans nearly two decades, from 1992 to 2011. The 1990s marked the most active period for LIHTC-funded affordable housing development, with four projects completed during this decade. Notable projects include St Charles Apts (1992), Valley Ridge Apts and Oak Tree Village (both 1995), and Tuscany At Lakepointe (1999).
The LIHTC-funded housing stock in Lewisville offers diverse unit types, including 8 efficiencies, 150 one-bedroom units, 231 two-bedroom units, and 138 three-bedroom units. This variety accommodates different household sizes and needs within the low-income population.
Lewisville has experienced significant population growth, increasing from 95,691 in 2010 to 130,933 in 2022, a 36.8% increase. The median income has risen from $57,457 in 2013 to $78,955 in 2022, indicating improved economic conditions for many residents.
The racial composition of Lewisville has changed between 2013 and 2022. The Asian population increased from 8% to 15%, and the Black population grew from 10% to 13%. The Hispanic population remained relatively stable at 30-31%. The White population decreased from 48% to 36%, suggesting a trend towards greater diversity in the city.
Despite population growth and demographic shifts, no new LIHTC projects have been recorded since 2011. This may indicate that other affordable housing initiatives or market-rate housing have been meeting the needs of the growing population, or that the focus of affordable housing efforts has shifted to other areas or programs.
Lewisville's LIHTC-funded affordable housing inventory represents a small but significant component of the city's overall housing stock. The program has provided nearly 900 units over two decades, with diverse unit types to accommodate various household sizes. While the city has experienced substantial population growth and demographic changes in recent years, the LIHTC program's contribution has remained stable since 2011. This analysis provides insight into one aspect of Lewisville's affordable housing landscape, though a comprehensive understanding would require information on other housing programs and initiatives in the city.