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Affordable Housing Analysis in Zip Code 63627: LIHTC Investment and Demographic Trends
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 63627 in Missouri covers an area of 79.25 square miles with a population of 2,975 in 2022. This zip code contains a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory, consisting of 56 total affordable units, all of which are designated as low-income units. Based on the estimated housing inventory of approximately 1,140 units, the LIHTC-funded affordable housing comprises about 4.91% of the zip code's housing stock.
The LIHTC program has invested $358,000 in project tax credits for affordable housing in this zip code. This equates to an average federal funding of $6,393 per unit. Zip code 63627 accounts for 0.1% of the total state LIHTC funding, indicating a modest but significant contribution to Missouri's affordable housing efforts.
The sole LIHTC project in this zip code, Bloomsdale Estates And Pleasant View Est, was completed in 2015. This project marks the inception of LIHTC-funded affordable housing in the area, representing a relatively recent addition to the community's housing options. All 56 units in the LIHTC-funded project are one-bedroom apartments, suggesting a focus on accommodating individuals or small households. This uniform unit type may cater to specific demographic needs within the community, such as seniors or young professionals.
Over the past decade, zip code 63627 has experienced fluctuations in population, with a general upward trend from 2,731 in 2013 to 2,975 in 2022. The median income has shown significant growth, rising from $39,840 in 2013 to $68,896 in 2022, indicating an overall improvement in economic conditions.
The racial composition of zip code 63627 has remained predominantly white, consistently above 95% throughout the decade. There has been a slight increase in diversity, with small percentages of Black, Hispanic, and multi-racial residents appearing in recent years.
The introduction of LIHTC-funded housing in 2015 coincides with a period of population growth and rising median incomes. This suggests that the affordable housing project may have been implemented to address growing housing needs in an area experiencing economic development.
Zip code 63627 in Missouri has a single LIHTC-funded affordable housing project that provides 56 one-bedroom units, covering nearly 5% of the estimated housing inventory. The project, completed in 2015, represents a recent addition to the community's housing options. The zip code has experienced population growth and significant increases in median income over the past decade, while the racial composition has remained predominantly white. The LIHTC investment in this area appears to be a response to growing housing needs in a community experiencing economic improvement.
