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Affordable Housing Analysis in Zip Code 64067: LIHTC Developments and Demographic Shifts
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 64067 in Missouri covers an area of 76.58 square miles and had a population of 5,694 in 2022. This zip code contains Low-Income Housing Tax Credit (LIHTC) funded affordable housing, with 72 affordable units, all designated as low-income units. Based on the estimated housing inventory of 2,182 units, LIHTC-funded affordable housing comprises approximately 3.3% of the zip code's housing stock.
The LIHTC projects in zip code 64067 have received $277,230 in tax credits, averaging $3,850 per unit. This funding represents 0.08% of Missouri's total LIHTC allocation, indicating a relatively small investment in affordable housing for this area. Affordable housing has been present in this zip code since 1996, with the completion of Sleepy Hollow Manor. The most recent project, Lexington Gardens, was completed in 2006, spanning a decade of affordable housing development.
The affordable housing inventory in zip code 64067 consists of 16 one-bedroom units, 18 two-bedroom units, and 20 three-bedroom units. This mix of unit sizes suggests an effort to accommodate various household sizes and needs within the community.
Over the past decade, zip code 64067 has experienced demographic shifts. The population increased from 5,238 in 2019 to 5,694 in 2022, indicating a growing community. Median income rose from $54,702 in 2019 to $68,982 in 2022, suggesting improving economic conditions for residents. Racial distribution trends show a slight decrease in the white population from 88% in 2019 to 89% in 2022, while the Hispanic population increased from 2% to 9% during the same period. The Black population decreased from 5% to 2% between 2019 and 2022.
Despite these demographic changes, no new LIHTC projects have been built in zip code 64067 in the last decade. This could be due to the rising median income, which may have reduced the perceived need for additional affordable housing in the area.
Zip code 64067 has an established affordable housing inventory funded through the LIHTC program. The existing projects provide 72 low-income units, representing about 3.3% of the estimated housing stock. This falls short of the ideal 15-20% affordable housing target, but other programs may contribute to the overall affordable housing inventory. The area has seen significant demographic changes in recent years, including population growth, increased median income, and shifts in racial composition. These changes, particularly the rising income levels, may have influenced the lack of new LIHTC projects in the past decade. As the community continues to evolve, ongoing assessment of affordable housing needs will be crucial to ensure adequate housing options for all residents.
