Real estate
Real estate
BY BEN THOMPSON
BY HANNAH NORTON
Texas’ first statewide flood plan shows 5 million people at risk
As a sign of ongoing economic change, median earnings in Central Texas increased in 2024, which affects who can access affordable housing. The big picture Median family income, or MFI, is calculated by the U.S. Department of Housing and Urban Develop- ment as a key metric for federal housing assistance. Locally, organizations use MFI to determine who can rent or sell affordable housing units. HUD defines 80% of an area’s MFI as low-income. The Austin-Round Rock metro area’s MFI for a family of four is $126,000 this year. That’s just over a 3% increase from 2023, following double-digit increases in the previous two years. More qualify for affordable housing as threshold rises
Income increasing The Austin-Round Rock metro area’s median family income increased again in 2024 following double-digit jumps the past two years. The MFI is based on a family of four and scales based on household size.
Median family income (4-person household)
Low-income limit/80% MFI (4-person household)
Over 5 million Texans live or work in areas vulnerable to flooding, according to a draft of the state’s first flood plan. State lawmakers tasked the Texas Water Devel- opment Board with creating the plan in 2019, in the aftermath of Hurricane Harvey. The 267-page draft, published in early May, recommends over $54.5 billion in funding from various sources to reduce flood risks. The board discussed the plan during a May 30 public hearing in Austin. Board members are expected to adopt a final flood plan in August and submit it to the Legislature by Sept. 1. The details The plan includes findings from 15 regional flood planning groups, which have been working since October 2020, and makes several recom- mendations for state and local flood policies. “Although flooding has certain benefits, like recharging groundwater and providing vital
nutrients to ecosystems and agricultural lands, it remains a significant threat to the health and safety of Texans,” the plan reads. “Each of the state’s 254 counties has experienced at least one federally declared flood disaster, proof that floods can affect all areas of Texas.” The plan noted roughly 70% of flood-related deaths occur on roadways, particularly during the night and at low-water crossings. The planning groups identified nearly 64,000 miles of roads in areas susceptible to flooding. The board asked the Texas Legislature to expand early warning systems for floods, create minimum building and infrastructure standards to reduce fatalities and property damage, improve low-water crossing safety, and enhance dam and levee safety programs. “We want to put out a state flood plan that does what it is tasked to do, and that is to save lives and save property,” board Chair Brooke Paup said.
$140K $120K $100K $0 $60K $80K
+64.06% increase
Flood risks Around one in six Texans live or work in flood-prone areas, the Texas Water Development Board found. Over one-fourth of Texas’ land area is vulnerable to flooding.
+59.18% increase
5.22M people
1.66M buildings
2015 2016 2017 2018 2019 2020 2021
2022 2023 2024
63,900 miles of roads
NOTE: THE AUSTIN-ROUND ROCK METROPOLITAN STATISTICAL AREA INCLUDES BASTROP, CALDWELL, HAYS, TRAVIS AND WILLIAMSON COUNTIES.
1.29M homes
SOURCE: U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT/COMMUNITY IMPACT
With a rising MFI, many people may not realize they fall under a low-income housing bracket and can qualify for housing with capped rents. “Whenever ... I ask people, ‘What do you think the median income is for a family of four?’ People are shocked by how high it is,” said Foundation Communities Executive Director Walter Moreau.
Current situation The area’s rising MFI is likely skewed by higher earners in some fields, rather than representing widespread wage growth, experts said. The increase also means there’s now a larger pool of potential residents in affordable housing provided by groups like Foundation Communities.
12.65M acres of agricultural land
6,258 hospitals, EMS departments, fire stations, police stations and schools
SOURCE: TEXAS WATER DEVELOPMENT BOARD/COMMUNITY IMPACT
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