Building affordability From the cover
CONTINUED FROM 19
By the numbers
The impact
Affordable housing developments
Complete
Under construction
Arbor Ranch, a 297-unit apartment complex on Roselawn Drive near Denia Park, broke ground March 19 and will offer 45 units at 50% of the area’s median income or lower, according to city documents. Council approved a tax credit, paid by the federal government, to developer The NRP Group to cover 30% of Arbor Ranch’s construction costs in February 2025. Nick Walsh, The NRP Group’s vice president of development, said the complex would not exist without the federal tax credits. “Without these incentives, those monthly savings wouldn’t exist for Denton families,” Walsh said. “These 297 units would likely never be built.” City data shows there are 35 housing developments with units priced for 50% area median income earners and under.
Out of Denton’s roughly 34,000 multifamily units, 624 are priced and reserved for renters earning 50% AMI or less, which the city classifies as affordable for Denton. Median market rate rent in Denton is $1,598 for a two-bedroom apartment, and $1,308 for a one-bedroom unit. To afford a market rate one-bedroom apartment in Denton without being cost burdened, a renter would need to earn about $4,360 a month.
428
77
288
380
Denton
35
Multifamily units in Denton
35E
288
Out of the city’s 34,419 multifamily units, 624 are designated as affordable for Denton. 1.81%
Total 34,419
35W
377
77
MAP NOT TO SCALE N
SOURCE: CITY OF DENTON/COMMUNITY IMPACT
SOURCE: CITY OF DENTON/COMMUNITY IMPACT
For state and federal cost of living programs, Denton is included in the whole DFW metroplex, which has a higher cost of living than Denton’s market rate. This requires deeper rent adjustments to create rent reductions.
Two-bedroom rent in Denton over time
50% AMI for DFW (affordable for Denton)
Denton market rate
80% AMI for DFW
Rent prices for DFW’s 80% AMI was higher than Denton’s market rate from 2015-24. Denton’s market rate for a two-bedroom unit was $1,598 in 2024, while the Dallas region’s was $1,986.
$2,000 $1,500 $1,000 $500 $0
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
SOURCES: CITY OF DENTON, U.S. CENSUS BUREAU/COMMUNITY IMPACT
20
COMMUNITYIMPACT.COM
Powered by FlippingBook