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Affordable Housing Analysis: Zip Code 63876 in Senath, Missouri - LIHTC's Significant Impact
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 63876, located in Senath, Missouri, demonstrates a notable presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. This area contains 72 affordable units, all designated as low-income units. Based on the 2022 population of 1,852 and an estimated housing inventory of approximately 710 units, LIHTC funded affordable housing comprises about 10.1% of the zip code's housing inventory. This represents a significant contribution to the area's affordable housing needs.
The LIHTC program has supported affordable housing in this zip code since 1996, with the completion of the Rosewood Apts project. The most recent project, Senath Apts, was completed in 2004, indicating over two decades of affordable housing presence in the area. The 2000s saw the most affordable housing development activity in this zip code.
The affordable housing inventory in this zip code consists primarily of one-bedroom units (48), followed by two-bedroom units (16), and three-bedroom units (8). This mix of unit sizes can accommodate various household compositions, from individuals to small families.
Over the past decade, zip code 63876 has experienced demographic shifts. The population has declined slightly, from 2,063 in 2014 to 1,852 in 2022. Despite this population decrease, the median income has increased significantly, rising from $26,601 in 2014 to $40,193 in 2022. This income growth may indicate changing economic conditions in the area.
Racial demographics have also evolved. The Hispanic population has grown from 26% in 2014 to 41% in 2022, while the white population has decreased from 74% to 55% during the same period. The Black population has remained consistently around 1% since 2017.
While no new LIHTC projects have been built in the last decade, the existing affordable housing continues to play a crucial role. The rising median income and changing racial composition suggest evolving housing needs that may require ongoing assessment.
Zip code 63876 demonstrates a significant commitment to affordable housing through its LIHTC-funded projects. With 72 low-income units, representing about 10.1% of the estimated housing inventory, these projects contribute substantially to meeting affordable housing needs. The area has seen demographic changes, including population decline, increased median income, and shifts in racial composition. These trends, coupled with the existing affordable housing stock, underscore the importance of continued monitoring and potential adaptation of housing strategies to meet the evolving needs of the community.
