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Workforce/Affordable Housing
During the development of Victoria’s community-driven 2035 Comprehensive Plan, residents identified the expansion of entry-level and moderate-income housing as a key goal for the city. The City of Victoria partners with private developers and leverages state and federal resources to expand low-cost housing options for residents.
Area median income
Some affordable housing options are reserved for residents who earn less than a certain percentage of Victoria’s area median income (AMI).
Area median income is updated yearly by the Department of Housing and Urban Development. This table shows AMI levels for 2023.
| Household Size | 1 | 2 | 3 | 4 | 5 | 6 |
|---|---|---|---|---|---|---|
| 30% AMI | $15,400 | $17,600 | $19,800 | $21,950 | $23,750 | $25,500 |
| 50% AMI | $25,650 | $29,300 | $32,950 | $36,600 | $39,550 | $42,500 |
| 60% AMI | $30,780 | $35,160 | $39,540 | $43,920 | $47,460 | $51,000 |
| 80% AMI | $41,000 | $46,850 | $52,700 | $58,550 | $63,250 | $67,950 |
For assistance, contact Development Services at 361-485-3360 or zwendel@victoriatx.gov.
Funding sources
Victoria Housing Finance Corporation
The Victoria Housing Finance Corporation issues tax-exempt bonds on behalf of private developers to finance affordable housing projects. The developer is responsible for repaying the bonds.
The VHFC collects developer fees and bond issuance fees on some of its projects. These additional fees can be used to fund other affordable housing projects.
Victoria Public Facility Corporation
The Victoria Public Facility Corporation issues tax-exempt bonds on behalf of private developers to finance mixed-income housing projects. The developer is responsible for repaying the bonds.
The VPFC collects developer fees and bond issuance fees on some of its projects. These additional fees can be used to fund other projects.
Texas Department of Housing and Community Affairs
The Texas Department of Housing and Community Affairs administers competitive and noncompetitive tax credit programs for affordable housing developments.
The City of Victoria supports and assists developers in applying for these tax credit programs.
Community Development Block Grant program
Development Services administers the federal Community Development Block Grant program, which is funded by the Department of Housing and Urban Development. These federal funds may be used to revitalize neighborhoods, expand affordable housing and provide other support to low- to moderate-income residents.
Affordable apartments supported by City partnerships
Enchanted Gardens
| Unit Size | Number of Units | Estimated monthly rent |
|---|---|---|
| 1 bedroom | 48 | $339-726 |
| 2 bedrooms | 72 | $408-871 |
| 3 bedrooms | 48 | $470-1,007 |
- Requirements: No more than 60% area median income
- How it’s funded: VHFC bonds; TDHCA noncompetitive 4% housing tax credit program; deferred developer fee
- Developer: Realtex Development Corporation
- Leasing to begin: Currently open; call 361-210-6733 or email info.enchantedgardens@realtexdevelopment.com
- More information: www.enchantedgardensapt.com
Odem Street Apartments
| Unit Size | Number of Units | Estimated Monthly Rent |
|---|---|---|
| 1 bedroom | 12 | $312-813 |
| 2 bedrooms | 132 | $379-1,023 |
| 3 bedrooms | 134 | $441-1,185 |
| 4 bedrooms | 36 | $489-1,318 |
- Requirements: No more than 70% area median income
- How it’s funded: VPFC bonds; TDHCA noncompetitive 4% housing tax credit program; deferred developer fee
- Developer: The NRP Group
- Leasing to begin: To be announced
FishPond at Victoria
| Unit Size | Number of Units | Estimated Monthly Rent |
|---|---|---|
| 1 bedroom | 57 | $350-750 |
| 2 bedrooms | 18 | $400-890 |
Requirements: No more than 60% area median income; must be 55 or older
- How it’s funded: TDHCA competitive 9% housing tax credit program; private funding
- Developer: FishPond LLC
- Leasing to begin: Fall 2024
- Apartments to open: Spring 2025
The Victorian
| Unit Size | Number of Units | Estimated Monthly Rent |
| 1 bedroom | 28 | $345-995 |
| 2 bedrooms | 40 | $407-1,295 |
Requirements: No more than 60% area median income; must be 55 or older
- How it's funded: TDHCA competitive 9% housing tax credit program; private funding
- Developer: Realtex Development Corporation
- Leasing to begin: Late 2024
- Apartments to open: Early 2025
Infill housing program
Based on similar programs that have been successful in other cities, the program aims to transfer vacant lots to residential builders who will build houses at reasonable prices.
Lot owners will be able to donate their properties to this program in exchange for the forgiveness of outstanding liens. The City will transfer the land to developers or sell it at a reduced cost; in exchange, the developers must price their homes within a limited profit margin to keep them affordable.
Property owners or builders who are interested in the program may contact the City Manager’s Office at 361-485-3030 or vmorales@victoriatx.gov.
- Requirements: No more than 80% area median income; must be able to qualify for a mortgage
- How it’s funded: Property donations; VHFC funds; CDBG funds