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Affordable Housing Impact in Walnut Park East: LIHTC Projects and Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Walnut Park East, a neighborhood in St. Louis, Missouri, contains 37 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. These units constitute approximately 3.2% of the estimated 1,172 total housing units in the neighborhood, based on the 2022 population of 3,059 and the national average household size.
The LIHTC projects in Walnut Park East have received $639,000 in project tax credits, averaging about $17,270 per unit. Affordable housing development in the area spans over two decades, with the first LIHTC project completed in 1988 at 5024 Genevieve Ave and the most recent, Lillian Park II, finished in 2009.
The 1980s were the most active period for LIHTC project completions, with four projects finished between 1988 and 1990. Notable projects include those at 4773 Genevieve Ave and 4947 Genevieve Ave, both completed in 1989. The LIHTC projects in Walnut Park East primarily cater to larger families, with 34 three-bedroom units and 3 four-bedroom units.
Walnut Park East has experienced demographic changes over the past decade. The population decreased from 4,236 in 2016 to 3,059 in 2022, a 28% decline. Despite this decrease, the median income increased from $23,745 in 2016 to $28,592 in 2022, a 20% rise.
The neighborhood's racial composition has remained predominantly African American, though the percentage decreased from 98% in 2016 to 81% in 2022. Concurrently, there was a significant increase in residents identifying as two or more races, from less than 1% in 2016 to 17% in 2022.
No new LIHTC projects have been completed in Walnut Park East since 2009. This may be related to the declining population trend, potentially reducing the immediate need for additional affordable housing units in the area.
Walnut Park East has an established foundation of LIHTC funded affordable housing, with projects dating back to the late 1980s. The neighborhood's 37 low-income units, primarily three-bedroom apartments, serve larger families. While the population has decreased over the past decade, median income has increased, potentially affecting affordable housing demand. The racial composition remains predominantly African American, with a recent increase in multi-racial residents. The absence of new LIHTC projects in recent years may reflect changing demographic trends and housing needs in the neighborhood.
