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Affordable Housing Analysis in Zip Code 65655: LIHTC Projects and Population Decline
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 65655 in Missouri covers 170.27 square miles and has a population of 2,134 as of 2022. This zip code contains two Low-Income Housing Tax Credit (LIHTC) funded affordable housing projects, providing 62 units, of which 35 are low-income units. The LIHTC funded affordable housing represents approximately 7.6% of the zip code's estimated 818 housing units.
The LIHTC program has invested $191,234 in tax credits for affordable housing projects in zip code 65655. This equates to an average federal funding of $3,084 per unit. The zip code accounts for 0.05% of the total LIHTC funding allocated to Missouri. Harlin Heights Apartments, completed in 1997, was the first LIHTC project in this zip code, while Westridge Apartments, finished in 2015, was the most recent. This indicates an 18-year span of affordable housing development in the area.
One affordable housing project was completed in the 1990s and another in the 2010s. The LIHTC funded units in this zip code consist of 36 one-bedroom units, 17 two-bedroom units, and 9 three-bedroom units. Westridge Apartments, completed in 2015, targets handicapped individuals, likely incorporating design features and services to accommodate their specific needs.
Zip code 65655 has experienced a significant population decline over the past decade, from 3,009 in 2016 to 2,134 in 2022, representing a decrease of approximately 29%. Median income has fluctuated, reaching a low of $23,043 in 2019 before rising to $24,078 in 2022. The racial composition of the zip code has remained predominantly white, with a slight decrease from 97% in 2013 to 93% in 2022. There has been a small increase in diversity, with slight growth in Hispanic, Black, and Native American populations.
The completion of Westridge Apartments in 2015 coincides with a period of higher population in zip code 65655. However, the subsequent population decline may indicate changing housing needs in the area. The zip code has a modest LIHTC funded affordable housing inventory, covering about 7.6% of the estimated housing stock. The area has seen two LIHTC projects completed over an 18-year span, with the most recent focusing on accommodating handicapped individuals.
Despite the investment in affordable housing, zip code 65655 has experienced significant population decline and income fluctuations over the past decade. The racial composition remains predominantly white, with slight increases in diversity. These demographic shifts may influence future affordable housing needs and development in the area.
