Builders Patch | HousingCount: Texas affordable housing data and latest news
Texas
Summary
Texas state is facing an acute affordable housing crisis. For every 100 low-income renter households, there are 54 units available that are affordable to them. The median rent in the state has risen by 55% since 2010, while median household incomes have grown by 45%. Currently, the state is short over 420,950 low-income housing units, meaning rental units that are affordable to households earning ≤60% of AMI.
37.6% share of renter households
40.1% share of low-income households
45.4% share of rent-burdened households
Renter population data
Renters vs homeowners
| Households | % share |
|---|---|
| Renter households | 3,848,280 |
| Homeowner households | 6,391,061 |
| Total households | 10,239,341 |
Low-income renter households
Renter households by income group
| Households | % share |
|---|---|
| Extremely low-income (≤30% AMI) | 527,654 |
| Very low-income (31-50% AMI) | 396,926 |
| Low-income (51-80% AMI) | 620,052 |
| All low-income households (<80% AMI) | 1,544,632 |
Rent-burdened households
| Share of income spent on rent | Households | % share |
|---|---|---|
| Moderately rent-burdened | 912,364 | 23.7% |
| 30.0–34.9% | 329,861 | 8.6% |
| 35.0–39.9% | 250,007 | 6.5% |
| 40.0-49.9% | 332,496 | 8.6% |
| Severely rent-burdened | 835,181 | 21.7% |
| ≥50.0% | 835,181 | 21.7% |
| All rent-burdened households | 1,747,545 | 45.4% |
Affordable housing shortage
Rent vs median household income
| Year | Median household income ($) |
|---|---|
| 2010 | 31,041 |
| 2021 | 45,149 |
| Increase (2010–2021) | 45.4% |
Median rent
| Year | Median rent ($) |
|---|---|
| 2010 | 625 |
| 2021 | 971 |
| Increase (2010–2021) | 55.4% |
Affordable housing stock
| Category | Units |
|---|---|
| Supply (current stock) | 503,630 |
| Demand (total units needed) | 924,580 |
| Shortage | 420,950 |
| Total shortage | 420,950 |
| Supply/Demand Ratio | 54.5% |
Finance institutions
Texas Department of Housing and Community Affairs
Texas Department of Housing and Community Affairs
221 E 11th Street
Austin, TX 78701-2410
List of loan programs
- Housing Tax Credit Programs: Competitive (9%) and Non-Competitive (4%).
- Multifamily Bond Program
- HOME Multifamily Development Program
QAP document (Qualified Allocation Plan)
QAP Texas
The QAP is a document that states, and a few local agencies, must develop in order to distribute federal Low Income Housing Tax Credits (LIHTCs), which can be awarded only to a building that fits the QAP’s priorities and criteria. The priorities must be appropriate to local conditions.
Download document
Housing news
How Fed Rate Cuts Impact the Housing Market
Key Takeaways:
- Lower Mortgage Rates: Fed rate cuts have already reduced the average 30-year mortgage rate, which dropped from a peak of 7.79% in late 2023 to around 6.2%.
- Ongoing Supply Issues: Despite lower rates, housing supply shortages will persist, especially in high-demand areas.
Housing market won’t come ‘unstuck’ until 2026, economists predict
Bank of America economists predict the US housing market won't recover until at least 2026, with home affordability improving only with a recession.
States With the Largest Homeless Populations
In 2023, the number of homeless individuals in the U.S. reached approximately 653,000, the highest since such records began in 2007.
| Rank | State | Homeless Population |
|---|---|---|
| 1 | California | 181,399 |
| 2 | New York | 103,200 |
| 3 | Florida | 30,756 |
| 4 | Washington | 28,036 |
| 5 | Texas | 27,377 |
| 6 | Oregon | 20,142 |
| 7 | Massachusetts | 19,141 |
| 8 | Colorado | 14,439 |
| 9 | Arizona | 14,237 |
| 10 | Pennsylvania | 12,556 |