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Affordable Housing Analysis in Zip Code 63102: LIHTC Funding and Demographic Shifts
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 63102 in St. Louis, Missouri, contains a substantial inventory of affordable housing funded by the Low-Income Housing Tax Credit (LIHTC) program. This urban area, which includes part of downtown St. Louis, has 187 affordable housing units, all designated as low-income units. These LIHTC-funded units represent approximately 11.3% of the estimated 1,661 housing units in the zip code.
The LIHTC projects in zip code 63102 have received $1,657,169 in project tax credits, averaging $8,862 per unit. This funding constitutes 0.47% of Missouri's total LIHTC allocation, indicating a significant concentration of affordable housing investment in this urban area. Affordable housing has been present in this zip code since at least 2006, with the completion of the Cupples Warehouse Apartments. The most recent project, Hammond Apartments, was completed in 2012, suggesting a six-year period of LIHTC development activity.
The LIHTC-funded housing stock in zip code 63102 primarily consists of two-bedroom units, with 128 such units available. There are also 3 one-bedroom units, providing a mix of housing options for different household sizes. The projects do not include efficiency, three-bedroom, or four-bedroom units.
Over the past decade, zip code 63102 has experienced fluctuations in population, with a general trend towards growth. The population increased from 4,127 in 2012 to 4,335 in 2022. Median income has also seen significant growth, rising from $33,987 in 2014 to $57,970 in 2022, potentially indicating changing economic conditions in the area.
Racial demographics in zip code 63102 have shifted slightly. The Black population decreased from 66% in 2013 to 54% in 2022, while the White population increased from 30% to 35% during the same period. The Hispanic population grew from 2% to 5%, and the Asian population remained relatively stable around 4-5%.
These demographic changes, particularly the rising median income, may have influenced the lack of new LIHTC projects in zip code 63102 since 2012. The increasing income levels could suggest a reduced need for additional affordable housing in recent years.
Zip code 63102 in St. Louis has a significant LIHTC-funded affordable housing presence, with 187 units covering about 11.3% of the estimated housing inventory. The area received substantial LIHTC funding, representing nearly half a percent of Missouri's total allocation. While affordable housing development was active in the 2000s, no new LIHTC projects have been completed since 2012. This coincides with demographic shifts, including population growth, rising median incomes, and changes in racial composition. These factors may have influenced the recent patterns of affordable housing development in the area.
