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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Cuba, Missouri, has a population of 5,880 as of 2022. The Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory in the city consists of 104 total units, all of which are designated as low-income units. Based on the estimated housing inventory of 2,253 units, LIHTC-funded affordable housing covers approximately 4.6% of the city's housing stock.
Cuba has received $624,383 in project tax credits through the LIHTC program. With three approximate projects, this equates to an average federal funding of $208,128 per project. Dividing the total tax credits by the 104 total units results in an average federal funding of $6,004 per unit. The city holds 0.18% of the total state LIHTC funding.
The first LIHTC project in Cuba, Highley Heights Apts, was completed in 1995, while the most recent project, Crawford County Affordable Housing, was finished in 2011. This indicates that affordable housing has been present in the city for at least 16 years. The 2000s saw the most affordable housing development, with two projects completed during this decade: Cuba Place Apts in 2006 and Crawford County Affordable Housing in 2011.
The LIHTC-funded housing in Cuba consists of 40 one-bedroom units, 34 two-bedroom units, and 12 three-bedroom units. There are no efficiencies or four-bedroom units reported.
Over the past decade, Cuba's population has fluctuated, peaking at 6,232 in 2018 before declining to 5,880 in 2022. The median income has shown some variability, ranging from $31,983 in 2017 to $37,247 in 2021, with the most recent figure at $36,678 in 2022.
Regarding racial distribution, the city has remained predominantly white, with a slight decrease from 97% in 2014 to 93% in 2022. There has been a small increase in diversity, with the Hispanic population growing from 1% in 2014 to 4% in 2022, and the percentage of residents identifying as two or more races increasing from 0% to 2% during the same period.
While no new LIHTC projects have been reported in the last decade, the slight increase in diversity and fluctuations in median income suggest that there may still be a need for affordable housing options in the community.
Cuba's LIHTC-funded affordable housing inventory comprises 104 units, representing 4.6% of the estimated housing stock. The city has received $624,383 in tax credits, averaging $208,128 per project and $6,004 per unit. Affordable housing development through LIHTC has spanned at least 16 years, with the most activity occurring in the 2000s. The housing mix primarily consists of one and two-bedroom units. While no new LIHTC projects have been reported recently, demographic trends suggest an ongoing need for affordable housing options in the community.