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Affordable Housing Analysis in Zip Code 63303: Three Decades of LIHTC Projects in St. Charles, Missouri
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 63303 in St. Charles, Missouri, contains 120 affordable housing units funded by Low-Income Housing Tax Credit (LIHTC), with 12 units specifically designated as low-income. This represents approximately 0.66% of the estimated 18,252 housing units in the zip code, based on the 2022 population of 47,639.
LIHTC projects in zip code 63303 have received $700,100 in tax credits, averaging $5,834 per unit. This funding constitutes 0.2% of Missouri's total LIHTC allocation. The affordable housing development in this area spans nearly three decades, with the first project, Hidden Terrace Townhomes, completed in 1995, and the most recent, Triangle III, finished in 2013.
The affordable housing inventory in zip code 63303 comprises 8 one-bedroom units, 55 two-bedroom units, and 57 three-bedroom units. This distribution indicates a focus on accommodating families and larger households. The 2010s saw the most activity in affordable housing development, with two projects completed: Falcons Way Townhomes in 2012 and Triangle III in 2013.
Zip code 63303 has experienced modest population growth, increasing from 45,167 in 2010 to 47,639 in 2022. The median income has risen significantly, from $75,958 in 2013 to $91,768 in 2022, potentially indicating a growing need for affordable housing options.
The racial composition of zip code 63303 has remained relatively stable, with a slight decrease in the white population from 87% in 2013 to 81% in 2022, and small increases in Black, Asian, and Hispanic populations. This gradual diversification may influence future affordable housing needs and considerations.
In summary, zip code 63303 in St. Charles has a small but established LIHTC-funded affordable housing inventory, covering less than 1% of the estimated housing stock. The area has seen consistent investment in affordable housing over nearly three decades, with a focus on larger units suitable for families. The gradual population growth, increasing diversity, and significant rise in median income suggest an ongoing need for affordable housing options in this community.
