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Affordable Housing in Arnold, Missouri: LIHTC-Funded Units 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
Arnold, Missouri, a suburban city in Jefferson County, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 53 units. These units, all designated as low-income, represent approximately 0.47% of the city's estimated 11,375 housing units. The city has received $11,856,500 in project tax credits through the LIHTC program, with an average federal funding of $5,928,250 per project and $223,707 per unit. Arnold's share of Missouri's total LIHTC funding is 3.38%, indicating a small but significant portion of the state's affordable housing investment.
The LIHTC-funded affordable housing in Arnold was developed between 2012 and 2014, suggesting a concentrated period of development. Water Crest Villas, completed in 2012, marked the beginning of LIHTC-funded housing in the city, while Richardson Ridge Villas, finished in 2014, represents the most recent project. The early 2010s saw the most affordable housing development in Arnold.
All 53 LIHTC-funded units in Arnold are two-bedroom units, indicating a focus on accommodating small families or couples. The two projects, Water Crest Villas and Richardson Ridge Villas, do not have specified target populations, suggesting they are open to general low-income residents.
Arnold's population has remained relatively stable over the past decade, fluctuating between 29,000 and 30,500 residents. The median income has shown an overall upward trend, increasing from $62,578 in 2013 to $67,396 in 2022. This rise in median income may indicate a growing need for affordable housing options for lower-income residents who may face increased housing costs.
Racially, Arnold has maintained a predominantly white population, consistently above 90% throughout the decade. However, there has been a slight increase in diversity, with the percentage of residents identifying as two or more races growing from 1% in 2013 to 5% in 2022. This gradual diversification could potentially influence future affordable housing needs and demographics.
Arnold's LIHTC-funded affordable housing inventory, while modest in scale, represents a targeted investment in providing low-income housing options. The concentration of development in the early 2010s suggests a period of focused affordable housing growth. With all units being two-bedroom apartments, the current inventory caters to a specific segment of the low-income population. As the city continues to experience slight demographic shifts and income changes, ongoing assessment of affordable housing needs will be crucial to ensure the housing stock aligns with the evolving needs of Arnold's residents.
