Loading Content...
Affordable Housing Analysis in O'Fallon, Missouri Zip Code 63368: Three Decades of LIHTC Projects
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The zip code 63368 in O'Fallon, Missouri, contains 59 affordable housing units funded through the Low-Income Housing Tax Credit (LIHTC) program. All of these units are designated as low-income units. Based on the 2022 population of 44,319 and an estimated 16,980 housing units, LIHTC-funded affordable housing comprises approximately 0.35% of the total housing inventory in this zip code.
The LIHTC projects in zip code 63368 have received $619,000 in tax credits, with an average of $10,492 per unit. This funding represents 0.18% of Missouri's total LIHTC allocation, indicating a relatively small portion of the state's affordable housing investments. Affordable housing has been present in this zip code since 1991, with the most recent project completed in 2016. The 1990s saw the highest LIHTC activity, with four out of five projects completed during this decade.
The LIHTC-funded housing stock in zip code 63368 consists of 8 efficiencies, 24 two-bedroom units, and 27 three-bedroom units, providing a mix of housing options for different household sizes. Notable projects include Carriage Hills: Lot 146 and Carriage Hills: Lot 176, both completed in 1991, and the most recent addition, Town Square Apartments, finished in 2016.
Over the past decade, zip code 63368 has experienced fluctuations in population growth, with a peak of 45,236 residents in 2018 before slightly declining to 44,319 in 2022. The median income has shown an overall upward trend, rising from $99,957 in 2013 to $108,506 in 2022, with some fluctuations in between.
Racial demographics in zip code 63368 have remained relatively stable, with a predominantly white population (85% in 2022). There has been a slight increase in diversity, with small growth in Asian (from 3% to 5%) and Black (from 2% to 3%) populations between 2013 and 2022. The limited LIHTC activity in recent years may be attributed to the area's high median income and relatively stable demographics, potentially indicating less demand for additional low-income housing in this particular zip code.
Zip code 63368 has a small but established LIHTC-funded affordable housing inventory, representing a minor portion of its total housing stock. The area's high median income and stable demographics may influence the limited recent LIHTC development. While the existing LIHTC units provide some affordable options, they cover only a fraction of the estimated housing in this zip code.
