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Affordable Housing in California, Missouri: LIHTC Program Impact on Small Urban Area
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
California, Missouri, a small urban area, has a distinct affordable housing landscape shaped by the Low-Income Housing Tax Credit (LIHTC) program. The program has funded 88 total units in the city, with 52 designated as low-income units. Based on the estimated housing inventory of 2,833 units, LIHTC-funded affordable housing comprises approximately 3.1% of the city's housing stock.
The city has received $346,500 in project tax credits through the LIHTC program. With three approximate projects, this averages to about $115,500 per project. When divided by the total units, it amounts to an average of $3,937 per unit in federal funding. California holds 0.1% of Missouri's total LIHTC funding allocation.
The first LIHTC project, California Estates, was completed in 1993, while the most recent, California Apartments, was finished in 2017. This indicates a 24-year span of affordable housing development in the city. The 1990s saw the most activity in LIHTC housing development.
The LIHTC-funded housing inventory in California consists of 28 one-bedroom units, 52 two-bedroom units, and 8 three-bedroom units. The California Apartments project, completed in 2017, is targeted towards individuals with disabilities, addressing a specific housing need in the community.
Over the past decade, California has experienced modest population growth, increasing from 6,864 in 2010 to 7,393 in 2022. The median income has shown fluctuations, rising from $54,144 in 2013 to $61,882 in 2022. This economic improvement may have influenced the need for affordable housing.
The racial composition of the city has remained relatively stable, with a slight decrease in the white population from 91% in 2013 to 84% in 2022, and a small increase in Hispanic residents from 6% to 10% during the same period. These demographic shifts, though minor, could impact the demand for affordable housing options.
California's LIHTC-funded affordable housing stock represents a small but significant portion of its overall housing inventory. The city has maintained a steady pace of affordable housing development over more than two decades, with projects addressing various needs, including housing for individuals with disabilities. While the LIHTC program has contributed to the city's affordable housing options, the modest coverage suggests there may be additional opportunities or needs for affordable housing development in the future, especially considering the city's gradual population growth and evolving demographics.
