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Affordable Housing Analysis in Zip Code 63379: LIHTC-Funded Projects in Troy, 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 63379 in Missouri, which includes Troy, contains a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. This area has 205 total affordable units, all of which are designated as low-income units. This demonstrates a commitment to providing housing options for lower-income residents. Based on the 2022 population of 27,195 and an estimated 10,420 housing units, the LIHTC-funded affordable housing comprises approximately 1.97% of the zip code's estimated housing inventory.
The LIHTC projects in zip code 63379 have received $1,323,000 in project tax credits, averaging about $6,454 per unit in federal funding. This represents 0.38% of the total state LIHTC funding, indicating a modest but notable investment in affordable housing for this area. Affordable housing has been present in this zip code for nearly three decades, with the first LIHTC project, Troy Village Apartments, completed in 1992, and the most recent, Walnut Creek Estates, finished in 2020. The 1990s saw the most affordable housing development, with five projects completed during that decade.
The housing mix in LIHTC-funded projects is diverse, with 84 one-bedroom units, 118 two-bedroom units, and 3 three-bedroom units, catering to various household sizes and needs. Two notable projects in this zip code are Sunrise Villa Apartments (2016) and Walnut Creek Estates (2020), both of which target individuals with disabilities. These projects reflect an effort to address the specific housing needs of the handicapped population in the area.
Over the past decade, zip code 63379 has experienced steady population growth, increasing from 23,567 in 2013 to 27,195 in 2022. Median income has also risen significantly, from $61,561 in 2013 to $77,267 in 2022, suggesting improving economic conditions for residents. The racial composition of the zip code has remained relatively stable, with a slight decrease in the white population from 93% in 2013 to 91% in 2022, and small increases in Black, Hispanic, and multiracial populations. This gradual diversification aligns with the continued development of affordable housing options in the area.
The 63379 zip code demonstrates a consistent commitment to affordable housing through its LIHTC-funded projects. With 205 low-income units developed over nearly 30 years, the area has maintained a steady pace of affordable housing creation. The recent focus on projects for individuals with disabilities shows an evolving approach to meeting specific community needs. While the percentage of affordable housing is modest compared to the total estimated housing inventory, it represents an important resource for lower-income residents in an area experiencing population growth and rising median incomes.
