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Affordable Housing Analysis in O'Fallon, Missouri: Zip Code 63366's LIHTC Inventory and Demographics
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The zip code 63366 in O'Fallon, Missouri, contains a notable Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. This area has 206 total units in LIHTC funded projects, with 185 designated as low-income units. These affordable housing options represent approximately 1.05% of the estimated 19,593 housing units in the zip code.
LIHTC projects in zip code 63366 have received $4,670,557 in project tax credits, averaging $22,672 per unit. This allocation constitutes 1.33% of the total LIHTC funding for Missouri. The affordable housing presence in this zip code dates from at least 2005 to 2017, with Gentemann Manor and Hillmann Place II representing early and recent projects, respectively.
The 2010s saw the highest number of LIHTC project completions, with multiple projects finished in 2011, including Homefield Villas, Townhomes At Homefield, and Woodbury Place Phase I. The LIHTC funded housing in this zip code offers a range of unit types: 30 one-bedroom units, 118 two-bedroom units, and 16 three-bedroom units, catering to various household sizes within the low-income population.
Two projects, Woodbury Place II and Hillmann Place II, are specifically designed to serve individuals with disabilities, addressing the unique housing needs of vulnerable populations within the community.
Zip code 63366 experienced steady population growth from 46,888 in 2013 to 51,139 in 2022. During this period, the median income increased from $76,248 to $87,209. This growth in population and income may have influenced the demand for affordable housing in the area.
The racial composition of zip code 63366 has remained relatively stable, with a slight decrease in the white population from 90% in 2013 to 85% in 2022, and small increases in Asian, Black, and Hispanic populations. This gradual diversification may have implications for future affordable housing needs.
Zip code 63366 demonstrates a consistent commitment to affordable housing through its LIHTC funded projects. While these projects cover a small percentage of the total estimated housing units, they provide important low-income housing options, including specialized units for individuals with disabilities. The area has seen steady population and income growth over the past decade, which may influence future affordable housing needs. The LIHTC program has played a significant role in supporting affordable housing development in this zip code, contributing to the diversity of housing options available to residents.
