Texas Governor Greg Abbott Invests Over $114 Million in Affordable Housing

Texas Governor Greg Abbott has announced a significant investment of over $114 million in housing tax credits, a move aimed at expanding affordable housing options for residents across the state. The funding will support the development or rehabilitation of approximately 70 rental properties, creating more than 4,400 affordable units.

Administered by the Texas Department of Housing and Community Affairs (TDHCA), this initiative seeks to ensure that as the state grows, Texans have access to the affordable housing necessary for prosperity. Governor Abbott emphasized that the tax credits will make quality, affordable housing accessible to working families, contributing to a more affordable and prosperous Texas for future generations.

The program directs private capital toward developing and preserving affordable rental housing for low-income households. Eligible participants receive credits to offset federal tax liabilities in exchange for producing or maintaining these properties. The state has published award and waiting lists for the 2026 process, following a prescribed schedule for applications and deadlines.

This investment comes as Texas grapples with a housing crisis. A report from the Texas Comptroller's Office indicated a 40% increase in the median home price between 2019 and 2023, coupled with soaring mortgage rates. The state identifies a shortage of housing, particularly for middle and low-income residents, as a threat to its economic competitiveness.