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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The zip code 63601 in Park Hills, Missouri, contains a significant number of Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. This area has 114 units in LIHTC-funded projects, with 51 designated as low-income units. Based on the 2022 population of 17,692 and using the national average household size, there are approximately 6,779 housing units in this zip code. The LIHTC-funded affordable housing comprises about 1.68% of the estimated housing inventory in the area.
LIHTC projects in this zip code have received $194,088 in project tax credits, averaging about $1,702 per unit. This funding represents 0.06% of the total LIHTC credits allocated in Missouri, indicating a relatively small but significant contribution to the state's affordable housing efforts.
Affordable housing has been present in this zip code for over three decades. The first LIHTC project, Raven Crest Apts, was completed in 1990, while the most recent, Flat River I Apts, was finished in 2006. The 1990s saw the most activity, with three projects completed during this decade: Raven Crest Apts (1990), St Francios Apts (1993), and Park Hills Apts (Flat River) (1998).
The LIHTC-funded housing inventory in this zip code consists primarily of one-bedroom units (73), followed by two-bedroom units (36), and a smaller number of three-bedroom units (5). This distribution suggests a focus on housing for smaller households or individuals.
Over the past decade, the population in zip code 63601 has remained relatively stable, fluctuating between about 17,500 and 18,400 residents. The median income has shown an overall upward trend, increasing from $35,932 in 2013 to $43,913 in 2022, with some fluctuations in between. This gradual income growth might indicate a slowly improving economic situation for residents.
The racial composition of the area has remained predominantly white, consistently above 94% throughout the past decade. There has been a slight increase in diversity, with the percentage of residents identifying as two or more races growing from 0% in 2013 to 4% in 2022. The Hispanic population has remained steady at around 1-2% during this period.
No new LIHTC projects have been completed in this zip code since 2006. This could be due to various factors, including changes in local housing needs, shifts in funding priorities, or the area reaching a sufficient level of affordable housing inventory relative to its population.
The zip code 63601 has a modest but established LIHTC-funded affordable housing presence, with projects dating back to 1990. While these units represent a small percentage of the estimated housing inventory, they provide important affordable options for the community. The area has seen gradual economic improvement over the past decade, as evidenced by rising median incomes. Despite this, the stable population and consistent racial composition suggest a community with relatively steady housing needs. The lack of new LIHTC projects since 2006 may warrant further investigation into current affordable housing demands in the area.