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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 63501 in Kirksville, Missouri, contains 220 total units in Low-Income Housing Tax Credit (LIHTC) funded affordable housing projects, with 168 designated as low-income units. Based on the 2022 population of 20,596 and the national average household size, the estimated housing inventory for this zip code is approximately 7,891 units. The LIHTC-funded affordable housing comprises about 2.79% of the estimated housing inventory in the zip code.
The LIHTC projects in zip code 63501 have received $587,000 in project tax credits, averaging about $2,668 per unit when divided by the total number of LIHTC-funded units. This zip code holds 0.17% of the total state funding for LIHTC projects, indicating a modest contribution to Missouri's affordable housing efforts.
The affordable housing landscape in zip code 63501 spans several decades. The earliest recorded LIHTC projects, Kirksville Estates and Sheraton Square, were completed in 1994. The most recent project, Baltimore Meadows, was completed in 2018, demonstrating a 24-year span of affordable housing development in the area. The 1990s saw the most activity, with three projects completed during this decade.
The LIHTC-funded housing in zip code 63501 offers a variety of unit types, with a predominance of two-bedroom units (110), followed by one-bedroom units (56), and a small number of three-bedroom units (3). This distribution suggests a focus on accommodating small families and individuals. Baltimore Meadows, completed in 2018, is notable for its target population of individuals with disabilities, potentially addressing specific housing needs within the community.
Over the past decade, the population in zip code 63501 has remained relatively stable, with a slight decrease from 20,864 in 2018 to 20,596 in 2022. During this period, the median income has shown an upward trend, increasing from $35,349 in 2018 to $39,243 in 2022, indicating a gradual improvement in economic conditions.
The racial composition of zip code 63501 has remained predominantly white, though there has been a slight decrease from 89% in 2018 to 87% in 2022. There has been a small increase in diversity, with the Black population growing from 4% to 5%, and those identifying as two or more races increasing from 2% to 3% during this period.
The completion of Baltimore Meadows in 2018 aligns with this period of demographic stability and slight income growth, suggesting a continued need for affordable housing options despite the moderate economic improvements.
Zip code 63501 demonstrates a consistent commitment to affordable housing through LIHTC-funded projects spanning over two decades. While these projects cover a small percentage of the estimated housing inventory, they provide crucial low-income housing options. The area has seen gradual economic improvement and slight increases in diversity over the past decade, factors which may influence future affordable housing needs and development in the zip code.