Loading Content...
Affordable Housing Analysis in Zip Code 65757: Low-Income Housing Tax Credit Program Impact in Strafford, 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 65757 in Strafford, Missouri, has a population of 7,828 as of 2022 and covers an area of 83.99 square miles. The Low-Income Housing Tax Credit (LIHTC) program has funded 36 affordable housing units in this zip code, all of which are designated as low-income units. Based on an estimated housing inventory of 2,999 units, the LIHTC-funded affordable housing covers approximately 1.2% of the zip code's housing stock.
The LIHTC projects in this zip code have received $218,364 in tax credits. With 36 total units, this translates to an average federal funding of $6,066 per unit. This zip code holds 0.06% of Missouri's total LIHTC funding, indicating a relatively small portion of the state's affordable housing investment.
The first LIHTC project in the zip code, "216 W Pine St," was completed in 1989, while the most recent project, "Madison Square," was finished in 2006. This 17-year span demonstrates a long-standing presence of affordable housing in the area. The 2000s saw the most significant development, with Madison Square adding 24 units to the inventory.
The affordable housing inventory in this zip code consists of 6 one-bedroom units, 6 two-bedroom units, and 24 three-bedroom units. This distribution suggests a focus on accommodating families and larger households.
Over the past decade, the population in zip code 65757 has grown from 7,019 in 2014 to 7,828 in 2022, an increase of about 11.5%. The median income has fluctuated, rising from $59,889 in 2014 to $64,698 in 2022, representing a 7.9% increase. The racial composition has remained predominantly white, with a slight increase in diversity. The percentage of white residents decreased from 96% in 2014 to 94% in 2022, while the Hispanic population grew from 0% to 2% during the same period.
Despite population growth and income increases, no new LIHTC projects have been developed in the last decade. This could be due to various factors, including changes in local housing policies, market conditions, or shifts in funding priorities.
Zip code 65757 has a modest LIHTC-funded affordable housing inventory, covering about 1.2% of its estimated housing stock. The area has seen two LIHTC projects developed over a 17-year period, with the most recent completed in 2006. The housing mix favors larger units, potentially catering to families. While the population and median income have grown over the past decade, there has been no recent LIHTC development activity. The demographic trends show a slight increase in diversity, which could influence future affordable housing needs in the area.
