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Affordable Housing Analysis in Zip Code 63101: St. Louis's Concentrated LIHTC Investment
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 63101, located in St. Louis, Missouri, encompasses an area of 0.35 square miles. This urban area contains a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory, comprising 338 total units in LIHTC funded projects, of which 108 are designated as low-income units. The estimated 925 housing units in the zip code indicate that LIHTC funded affordable housing represents approximately 36.5% of the zip code's housing inventory, demonstrating a substantial presence of affordable housing options.
The LIHTC projects in zip code 63101 have received $433,965 in project tax credits, averaging about $1,284 per unit in federal funding. This zip code accounts for 0.12% of the total state LIHTC funding, suggesting a concentrated investment in affordable housing within this small urban area. Affordable housing has been present in this zip code for at least 25 years, with the earliest project, Mark Twain Hotel, completed in 1997, and the most recent known completion being the Paul Brown Building in 2005. The early 2000s witnessed the most significant affordable housing development activity in this area.
The LIHTC funded housing inventory in zip code 63101 is diverse, consisting of 338 units distributed as follows: 2 efficiencies, 228 one-bedroom units, 106 two-bedroom units, and 2 three-bedroom units. This distribution indicates a focus on accommodating smaller households and individuals.
Over the past decade, zip code 63101 has experienced fluctuations in population, with a peak of 3,284 residents in 2019 and a decrease to 2,415 by 2022. Despite these changes, the median income has shown a significant upward trend, rising from $60,882 in 2017 to $78,761 in 2022. The racial composition of the area has remained relatively stable, with the Black population consistently representing the largest group, though decreasing slightly from 59% in 2017 to 48% in 2022. The White population has seen a modest increase from 35% to 43% during the same period. The Asian population has remained steady at around 3-4%, while the Hispanic population has shown a slight increase from 0% to 4%.
These demographic shifts, particularly the rising median income, may indicate changing housing needs in the area. However, the continued presence of a significant Black population and the increase in Hispanic residents suggest an ongoing need for affordable housing options.
Zip code 63101 in St. Louis demonstrates a substantial commitment to affordable housing through its LIHTC funded projects. With 36.5% of its estimated housing inventory dedicated to affordable units, the area significantly exceeds the target percentage for a well-balanced community. The diverse unit types cater to various household sizes, with a focus on smaller units. While the area has seen demographic changes, including rising median incomes and slight shifts in racial composition, the continued presence of diverse populations underscores the importance of maintaining affordable housing options in this urban zip code.
