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Affordable Housing Analysis in Zip Code 63851: LIHTC Program's Impact on Missouri's Hayti
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 63851 in Missouri covers an area of 96.17 square miles and includes the city of Hayti. This zip code features 118 units in Low-Income Housing Tax Credit (LIHTC) funded projects, with 55 designated as low-income units. Based on the estimated 2022 population of 3,452 and using the national average household size of 2.61, the estimated housing inventory for this zip code is approximately 1,323 units. The LIHTC-funded affordable housing units represent about 8.9% of the estimated housing inventory in this zip code.
The LIHTC program has funded four projects in this zip code, contributing to its affordable housing stock. The earliest project, Driftwood Apartments, was completed in 1995, while Cleveland Apartments I, II, and III were completed in 2002. This indicates that affordable housing has been present in this zip code for over 25 years, with expansion in the early 2000s.
The housing mix in LIHTC-funded projects includes 30 one-bedroom units, 54 two-bedroom units, 28 three-bedroom units, and 6 four-bedroom units. This range of unit sizes suggests an effort to accommodate various household compositions, from individuals to larger families.
Over the past decade, the zip code has experienced a population decline, from 4,039 in 2013 to 3,452 in 2022. The median income has shown an upward trend, rising from $24,270 in 2013 to $28,752 in 2022. This increase in median income still indicates a need for affordable housing options in the area.
The racial composition of the zip code has shifted over the past decade. The percentage of Black residents decreased from 42% in 2013 to 34% in 2022, while the percentage of White residents increased from 55% to 58% during the same period. The Hispanic population has remained relatively stable at around 1-2%. The percentage of residents identifying as two or more races increased from 1% in 2013 to 7% in 2022, indicating growing diversity in the area.
The LIHTC program has played a crucial role in providing affordable housing options in zip code 63851. With 118 total units, including 55 low-income units, LIHTC-funded projects contribute significantly to the area's housing stock. The projects, built between 1995 and 2002, offer a range of unit sizes to accommodate diverse household needs. Despite a declining population, the area has seen an increase in median income over the past decade, suggesting a continued need for affordable housing options. The changing racial demographics of the zip code highlight the importance of ensuring that affordable housing remains accessible to all community members.
