Loading Content...
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 63017, located in Chesterfield, Missouri, contains a small but specific Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. As of 2022, this area had a population of 41,374 and an estimated housing inventory of 15,852 units. The zip code contains 3 total affordable housing units, all of which are designated as low-income units. This LIHTC funded affordable housing covers approximately 0.02% of the estimated housing inventory in the zip code.
The LIHTC program has allocated $450,000 in project tax credits for affordable housing in this zip code. With 3 total units funded, this translates to an average federal funding of $150,000 per unit. This zip code holds 0.13% of the total state LIHTC funding, indicating a relatively small portion of Missouri's affordable housing resources.
The single LIHTC project in this zip code, Hillsdale Homes 2015, was completed in 2016. This project has been providing affordable housing in the area for about 7 years. All 3 units in this project are three-bedroom units, catering to families or individuals requiring more space.
Hillsdale Homes 2015 has a target population of "Handicapped," suggesting that these units are specifically designed to accommodate individuals with disabilities. This focus addresses a need for accessible, affordable housing for a vulnerable population.
Over the past decade, the zip code has experienced population growth, increasing from 39,760 in 2014 to 41,374 in 2022. During this period, the median income has risen from $108,758 in 2014 to $126,628 in 2022, indicating an increase in affluence in the area.
The racial composition of the zip code has shown changes. The white population has decreased from 83% in 2014 to 76% in 2022, while the Asian population has increased from 8% to 12%. The Black population has remained at 4%, and there has been an increase in the Hispanic population from 2% to 3%. The proportion of individuals identifying as two or more races has grown from 1% to 6%.
Despite these demographic shifts and the completion of the Hillsdale Homes project in 2016, there has not been additional LIHTC funded affordable housing development in recent years. This could be due to the area's high median income and relatively stable population, which may indicate less demand for additional affordable housing units.
Zip code 63017 has a small but targeted LIHTC funded affordable housing inventory, consisting of 3 units designed for individuals with disabilities. While this represents a small percentage of the estimated housing inventory, it addresses a specific need within the community. The area has seen population growth and an increase in median income over the past decade, along with shifts in racial composition. These demographic trends, combined with the limited LIHTC development, suggest a complex relationship between housing needs, economic factors, and population dynamics in this zip code.