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Affordable Housing in Chillicothe, Missouri: A Longitudinal Analysis of LIHTC Projects
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Chillicothe, a city in Missouri, has implemented affordable housing through the Low-Income Housing Tax Credit (LIHTC) program. The city's LIHTC-funded affordable housing inventory comprises 249 total units, with 248 designated as low-income units. This represents approximately 5.5% of the city's estimated housing stock of 4,545 units.
Chillicothe has received $714,053 in project tax credits for affordable housing through the LIHTC program. With approximately 7 projects, this amounts to an average of $102,007 in federal funding per project, or $2,867 per unit. The city accounts for 0.2% of the total state funding for LIHTC projects.
The development of LIHTC projects in Chillicothe spans 27 years, from 1988 to 2015. The first project, "203 Park Ln," was completed in 1988, while the most recent, "Shawnee Place," was finished in 2015. The 2000s were the most active period for affordable housing construction, with projects such as "Timber Villas Apts" (2003), "Strand Apts" (2005), and "Center Apts" (2007) being completed.
The LIHTC-funded housing in Chillicothe primarily consists of one-bedroom and two-bedroom units, with 158 and 87 units respectively. There are also 4 three-bedroom units, accommodating various household sizes. The "Shawnee Place" project, completed in 2015, specifically targets the handicapped population, addressing their unique housing needs.
Chillicothe's population has remained relatively stable over the past decade, ranging between 12,000 and 12,300 residents. The median income has shown an upward trend, increasing from $41,662 in 2013 to $52,353 in 2022. This rise in median income may partially explain the lack of new LIHTC projects since 2015.
The racial composition of Chillicothe has remained predominantly white, consistently above 90% throughout the decade. There has been a slight increase in diversity, with small growth in the Hispanic, Black, and multi-racial populations.
In summary, Chillicothe's LIHTC-funded affordable housing inventory contributes to about 5.5% of the city's estimated housing stock. The city experienced steady development of affordable housing over nearly three decades, with the most active period being the 2000s. While no new LIHTC projects have been developed since 2015, the existing inventory provides a mix of unit sizes, including specialized housing for handicapped individuals. The city's stable population and increasing median income in recent years may have influenced the pace of affordable housing development.
