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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Bolivar, Missouri, a city with a population of 14,730 in 2022, has a notable presence of affordable housing supported by the Low-Income Housing Tax Credit (LIHTC) program. The city contains 334 total units in LIHTC-funded projects, with 311 designated as low-income units. These units represent approximately 5.9% of Bolivar's estimated housing inventory of 5,644 units.
Bolivar has received $2,878,847 in project tax credits for affordable housing through the LIHTC program. This funding is distributed across approximately 11 projects, resulting in an average federal funding of $261,713 per project and $8,619 per unit. Bolivar's share of 0.82% of Missouri's total LIHTC funding indicates a significant investment in affordable housing relative to the city's size.
The city's involvement with LIHTC-funded affordable housing spans over three decades, beginning in 1987 with the Bolivar Heights Apts Bldgs project and continuing to the present, with the most recent project, Frisco Senior Village, completed in 2020. This long-term commitment demonstrates Bolivar's sustained focus on affordable housing development.
The 2010s marked the most active period in Bolivar's affordable housing development, with the completion of projects such as Monarch Estates (2012), Rose Park Estates (2016), and Aldrich Creek Estates (2016). The housing stock comprises a variety of unit types, including 88 one-bedroom, 146 two-bedroom, 81 three-bedroom, and 1 four-bedroom units, addressing the needs of diverse household sizes. Two projects, Aldrich Creek Estates and Frisco Senior Village, are specifically designed for residents with disabilities, reflecting efforts to meet the housing needs of vulnerable populations in Bolivar.
Bolivar's population has remained relatively stable over the past decade, with minor fluctuations. The median income has shown variability, ranging from a high of $46,073 in 2017 to a low of $39,413 in 2022. This decline in median income may potentially increase the demand for affordable housing options. The racial composition of Bolivar has remained predominantly white, with a slight decrease from 94% in 2013 to 92% in 2022. There has been a marginal increase in diversity, with slight growth in Hispanic, Black, and Native American populations. These gradual demographic shifts may influence future affordable housing needs and designs.
Bolivar's LIHTC-funded affordable housing inventory represents a significant investment in addressing the housing needs of its low-income residents. The 334 LIHTC units, comprising 5.9% of the estimated housing stock, provide a foundation for affordable housing in the city. The continuous development of LIHTC projects over three decades, with a focus on the 2010s, demonstrates an ongoing commitment to affordable housing. The inclusion of projects targeting residents with disabilities shows attention to diverse housing needs. While the current LIHTC inventory is a step towards addressing affordable housing needs, ongoing monitoring of demographic and economic trends will be crucial in determining future affordable housing strategies for Bolivar.