There is growing concern about having enough affordable housing options for the expanding Corpus Christi workforce.
Even with some new apartment complexes under construction, there’s still a shortage. Demand outweighs supply in Corpus Christi’s housing market. And housing that is available is often too expensive for the average family to afford.
“If we keep adding jobs at the rate we’re adding, adding population at the rate we’re adding we’re going to need to do something in terms of growth management,” Iain Vasey of the Corpus Christi Regional Economic Development Corp. said. “We’re going to need to start adding new housing units.”
According to Vasey’s group, the city is running short on workforce housing.
But how short?
“We think it’s somewhere between 1,100-1,200 and as many as 1,500 housing units a year short.
he said. “That’s every year for the next five years.”
Availability is one issue. Affordability is another.
The average Corpus Christi resident earns a little more than $25,000 a year.
That average worker can afford a $625 monthly rent.
The average price for a one-bedroom apartment is $881 a month or $1,112 for a two bedroom.
“We need to start thinking about strategies to bring more affordable housing, workforce housing to the market,” Vasey said.
Mayor Joe Mccomb says finding the solution is easier said than done.
Several low-income complexes have opened around the city with more planned.
However, there isn’t an answer for people in need who don’t qualify for low income housing.
“You can see that bubble and it’s starting to squeeze folks,” Vasey said.
Another reason for the lack of affordable apartments is a lack of affordable houses.
A family making the median household income can probably afford a $170,000 house. The media house price is about $200,000.
And according to McComb, the state offers incentives to developers who build low to moderate income housing developments.
