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Affordable Housing Analysis in Zip Code 65781: LIHTC Funded Projects in Willard, Missouri
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 65781, located in Willard, Missouri, contains a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The area encompasses 140 total units in LIHTC funded projects, with 112 designated as low-income units. Based on the 2022 population of 7,658 and an estimated 2,934 housing units, LIHTC funded affordable housing comprises approximately 4.77% of the zip code's housing inventory.
The LIHTC projects in zip code 65781 have received $1,126,000 in project tax credits, averaging $8,043 in federal funding per unit. This funding represents 0.32% of Missouri's total LIHTC allocation, indicating a modest investment in affordable housing for this area.
Affordable housing has been present in zip code 65781 for over three decades. The first LIHTC project, Willard Estates Apts, was completed in 1988. The most recent project, Fox River Estates II, was finished in 2018, targeting the handicapped population. The 2010s saw the most affordable housing development, with two projects completed during this decade.
The LIHTC funded projects in zip code 65781 offer a mix of unit types, including 4 one-bedroom, 80 two-bedroom, and 56 three-bedroom units. This distribution suggests a focus on accommodating families and individuals with varying space needs.
Over the past decade, zip code 65781 has experienced modest population growth, increasing from 7,189 in 2010 to 7,658 in 2022. Median income has also risen significantly, from $55,061 in 2013 to $71,474 in 2022, potentially indicating a growing need for affordable housing options to support lower-income residents.
The racial composition of zip code 65781 has remained relatively stable, with the white population consistently representing over 90% of residents. This demographic consistency may have influenced the planning and development of LIHTC projects in the area.
Zip code 65781 has maintained a steady presence of LIHTC funded affordable housing over the past three decades, with projects tailored to meet various needs, including those of handicapped individuals. While the current affordable housing stock covers a small percentage of the estimated housing inventory, it represents a consistent commitment to providing housing options for lower-income residents in an area experiencing population and income growth.
