Loading Content...
Affordable Housing Analysis in Zip Code 63801: Three Decades of LIHTC Development in Sikeston, Missouri
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 63801 in Sikeston, Missouri, contains 141 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. These units, all designated as low-income, constitute approximately 1.6% of the estimated 8,781 housing units in the zip code, based on the 2022 population of 22,919.
The LIHTC projects in zip code 63801 have received $104,107 in tax credits, averaging about $738 per unit in federal funding. This represents 0.03% of the total LIHTC funding allocated to the state of Missouri. Affordable housing development in this zip code spans over three decades, with the first LIHTC project completed in 1987 at 126 N New Madrid St and the most recent, Wendell Apts, finished in 2006. The 1990s experienced the highest activity, with three projects completed in 1991 alone.
The affordable housing inventory in zip code 63801 comprises a diverse range of unit types, including 2 efficiencies, 112 one-bedroom units, 23 two-bedroom units, and 3 three-bedroom units. This distribution indicates a focus on accommodating smaller households and individuals.
Over the past decade, the population in zip code 63801 has experienced a slight decline, decreasing from 23,541 in 2013 to 22,919 in 2022. Despite this population decrease, the median income has increased from $43,613 in 2013 to $49,537 in 2022, suggesting a potential improvement in economic conditions for some residents.
The racial composition of zip code 63801 has remained relatively stable, with a slight increase in diversity. The white population decreased marginally from 75% in 2013 to 73% in 2022, while the Black population increased slightly from 17% to 19%. There has also been a small increase in the Hispanic population and those identifying as two or more races.
Zip code 63801 has a modest LIHTC funded affordable housing inventory, representing about 1.6% of the estimated housing stock. This falls short of the target 15-20% for affordable housing, although other programs may contribute to the overall affordable housing landscape. The area has demonstrated a consistent commitment to affordable housing development over three decades, with a mix of unit types catering to various household sizes. Despite a slight population decline, rising median incomes indicate potential economic improvements. The racial composition has remained relatively stable with a trend towards increased diversity. These factors combined provide a complex picture of the affordable housing needs and developments in zip code 63801.
