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Affordable Housing Analysis in Zip Code 64468: LIHTC Funding 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 64468 in Maryville, Missouri, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area has 304 total units in LIHTC-funded projects, with 287 designated as low-income units. Based on the 2022 population of 13,904 and an estimated 5,327 housing units, the LIHTC-funded affordable housing covers approximately 5.7% of the zip code's estimated housing inventory.
The LIHTC projects in this zip code have received $4,835,780 in project tax credits, averaging about $15,907 per unit. This funding represents 1.38% of Missouri's total LIHTC allocation, indicating a significant investment in affordable housing for this area.
Affordable housing has been present in the zip code for over two decades. The first LIHTC project, Maryville Properties, was completed in 1992, while the most recent, Southview Apartments Phase II, was finished in 2016. The 2010s saw the most affordable housing development, with three projects completed during this decade: Southview Apartments (2013), Villas At The Summit Phase II (2014), and Southview Apartments Phase II (2016).
The LIHTC-funded projects in this zip code offer a diverse range of unit types. There are 5 one-bedroom units, 154 two-bedroom units, and 52 three-bedroom units, catering to various household sizes and needs.
One notable project, Southview Apartments Phase II, completed in 2016, specifically targets the handicapped population. This project addresses the unique housing needs of individuals with disabilities, potentially offering accessible design features and supportive services.
Over the past decade, the zip code has experienced a gradual decline in population, from 15,442 in 2015 to 13,904 in 2022. Despite this population decrease, the median income has shown an upward trend, rising from $32,279 in 2015 to $42,873 in 2022. This increase in median income might indicate changing economic conditions in the area.
The racial composition of the zip code has remained relatively stable, with the white population consistently representing about 91% of residents. There has been a slight increase in diversity, with small growths in the Asian, Black, and Hispanic populations, as well as those identifying as two or more races.
The most recent LIHTC project was completed in 2016, coinciding with a period of population stability and the beginning of the upward trend in median income. The lack of new LIHTC projects since then might be related to the subsequent population decline and income increase, potentially reducing the immediate need for additional affordable housing units.
Zip code 64468 has a notable presence of LIHTC-funded affordable housing, covering about 5.7% of its estimated housing inventory. The area has received significant LIHTC funding, representing 1.38% of Missouri's total allocation. The affordable housing stock is diverse, offering various unit types and including a project specifically targeting the handicapped population. While the zip code has seen a gradual population decline and increase in median income over the past decade, the existing LIHTC projects continue to play an important role in providing affordable housing options for the community.
