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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Breckenridge Hills, a city in Missouri, has a specific affordable housing landscape influenced by the Low-Income Housing Tax Credit (LIHTC) program. The city's LIHTC-funded affordable housing inventory comprises 120 total units, all designated as low-income units. This represents approximately 6.4% of the city's estimated housing stock of 1,876 units.
Breckenridge Hills has two LIHTC-funded projects: Pasteur Ave Apts, completed in 1987, and Hickory Trace Apts, completed in 1996. The 1990s saw the most significant development in LIHTC-funded affordable housing, with the Hickory Trace Apts project adding 116 units to the city's affordable housing inventory.
The LIHTC-funded projects in Breckenridge Hills offer a mix of unit types, consisting of 44 one-bedroom units and 76 two-bedroom units. This distribution suggests a focus on accommodating small families and individuals in need of affordable housing.
Demographic trends in Breckenridge Hills over the past decade may influence the need for affordable housing. The population has fluctuated, with a peak of 5,303 in 2019 and a decrease to 4,897 in 2022. Median income in the city has shown an overall upward trend, rising from $34,981 in 2013 to $46,411 in 2022. Despite this increase, the median income remains relatively low, suggesting a continued need for affordable housing options.
Racial demographics have also shifted over the past decade. The white population has decreased from 55% in 2013 to 42% in 2022, while the Hispanic population has increased from 7% to 23% during the same period. The black population has remained relatively stable, decreasing slightly from 29% to 25%. These changes in racial composition may influence the diverse housing needs of the community.
Breckenridge Hills' LIHTC-funded affordable housing inventory provides a foundation of 120 low-income units for its residents. The city's two LIHTC projects, developed in the late 1980s and mid-1990s, offer a mix of one-bedroom and two-bedroom units. While the current affordable housing stock covers about 6.4% of the estimated housing inventory, demographic trends such as fluctuating population, increasing median income, and shifting racial composition suggest an ongoing need for diverse and affordable housing options in the city. These factors provide a basis for future planning and potential expansion of affordable housing initiatives in Breckenridge Hills.