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Affordable Housing Dynamics in Zip Code 66018: De Soto's LIHTC Program Implementation
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The zip code 66018 in De Soto, Kansas, exhibits a distinct Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. This area contains 52 affordable units, including 5 low-income units, implemented through the LIHTC program. Based on the 2022 population of 5,749 and an estimated 2,203 housing units, LIHTC funded affordable housing comprises approximately 2.36% of the zip code's estimated housing inventory.
The LIHTC program has allocated $634,025 in tax credits for affordable housing projects in zip code 66018. This allocation equates to an average federal funding of $12,193 per unit. Notably, this zip code accounts for 0.44% of the total state LIHTC funding, indicating a significant allocation relative to its size.
Affordable housing has been present in this community for over two decades. The initial LIHTC project, Prospector's Point, was completed in 1998, while the most recent, Valley Springs Senior Housing II, was finished in 2014. The 2000s witnessed the most substantial activity in affordable housing development, with two projects completed during this decade.
The affordable housing inventory in zip code 66018 consists entirely of two-bedroom units, totaling 52 units. This configuration suggests a focus on accommodating small families or couples.
Over the past decade, the population in zip code 66018 has demonstrated moderate growth, increasing from 5,191 in 2013 to 5,749 in 2022. The median income has fluctuated, with the most recent data indicating $75,505 in 2022, a decrease from a peak of $90,351 in 2021.
Racial demographics have remained relatively stable, with a slight increase in diversity. The white population has decreased marginally from 86% in 2013 to 85% in 2022, while small increases have occurred in Asian (1% to 2%) and multiracial (1% to 3%) populations. The Hispanic population has remained relatively constant, ranging between 7-11% over the decade.
The completion of Valley Springs Senior Housing II in 2014 aligns with a period of population growth and relatively high median income, suggesting a proactive approach to addressing diverse housing needs in the community.
Zip code 66018 possesses a modest but significant LIHTC funded affordable housing inventory, covering about 2.36% of the estimated housing units. The area has experienced consistent investment in affordable housing over two decades, with a focus on two-bedroom units. While the LIHTC projects represent a small portion of the overall housing stock, they serve a crucial role in providing affordable options in an area with fluctuating median incomes and a gradually diversifying population. The continued presence of LIHTC projects indicates an ongoing commitment to maintaining affordable housing options in this community.
