COLLEGE STATION, Texas (KRHD) — College Station approves affordable housing project to ease rent burden
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College Station City Council approved a program to build affordable housing, offering much-needed rent relief to residents struggling with rising costs in the area.
The majority of residents in the city are housing cost burdened, according to Bob Yancy, City Council Place 5 member.
"The majority of our residents are housing cost burdened," Yancy said.
Finding affordable housing in College Station has become increasingly difficult as costs continue to rise. Since 2015, the average home price in College Station has increased by 73%, while median family income has only increased by 25%, according to Harrion Leahy from Woda Cooper Companies.
The proposed Knoxwood Crossing affordable housing project would be located off South Harvey Mitchell Parkway. The development is planned as a four-story building with 60 rental units.
Local resident Valen Cepak expressed excitement about the project's unique approach.
"This is super exciting because it's not a student residence. It's not something that can be sold later in the future. This is owned, operated, and managed by one company," Cepak said.
The need for affordable housing is evident in the local market conditions. The median income in College Station for two people is around $77,000 per year, but many residents are paying more than 30% of their income on rent, Cepak noted.
The developer recognized College Station's housing crisis as particularly severe compared to other markets they serve.
"The Knoxwood developer last night said it plainly, they've got 400 properties they manage across the country, and they saw the problem as among the worst here in College Station," Yancy said.
Unlike other properties in the area, Knoxwood Crossing will not be student housing. To qualify for residency, applicants must earn between 30% and 60% of the Area Median Income.
According to U.S. Census data from 2023, the median income for College Station is $51,776. This means people making between $15,532 and $31,065 are eligible for the affordable housing units.
The development has specific restrictions on who can rent the units.
"Per IRS guidance, we actually cannot rent to full-time students," Leahy said.
Residents are enthusiastic about having lower-cost housing options that don't compromise on quality.
"Beautiful apartments that you can live in without it feeling like you're paying for an affordable apartment," Cepak said.
Once the plans are approved through the state, the developer hopes to complete construction by the end of December 2028.
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