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Affordable Housing Analysis in Zip Code 63367: Lake St. Louis's LIHTC Funded Inventory
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 63367 in Missouri, which includes Lake St. Louis, contains a specific Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. This area has 52 total affordable units, all of which are designated as low-income units. These units represent approximately 0.51% of the estimated 10,249 housing units in the zip code.
The LIHTC projects in zip code 63367 have received $603,000 in project tax credits, averaging about $11,596 in federal funding per unit. This funding constitutes 0.17% of the total state LIHTC allocation. Affordable housing has been present in this zip code for nearly three decades, with the first project completed in 1988 and the most recent finished in 2016.
The LIHTC funded housing inventory in zip code 63367 consists primarily of one-bedroom (22 units) and two-bedroom (29 units) apartments, with a single three-bedroom unit. The Lake Ridge project, completed in 2016, specifically targets the handicapped population, addressing the unique housing needs of individuals with disabilities.
Over the past decade, zip code 63367 has experienced significant population growth, increasing from 19,343 in 2013 to 26,749 in 2022. Despite this growth, only one LIHTC project was completed during this period. The median income in the area has risen substantially, from $90,671 in 2013 to $105,367 in 2022, indicating an overall increase in affluence.
Racial demographics in zip code 63367 have remained relatively stable, with a slight decrease in the white population (from 91% in 2013 to 85% in 2022) and small increases in black and Hispanic populations. These shifts, while minor, could indicate a growing diversity that may influence future affordable housing needs.
Zip code 63367 presents a complex picture of affordable housing. While LIHTC funded units make up a small percentage of the overall housing stock, they provide targeted support for low-income residents. The area has seen significant population and income growth over the past decade, which may be influencing the perceived need for additional affordable housing development. The existing LIHTC projects, particularly the more recent Lake Ridge development for handicapped individuals, demonstrate a commitment to addressing specific community needs. As the area continues to evolve demographically and economically, ongoing assessment of affordable housing needs will be crucial to ensure a balanced and inclusive community.
