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Affordable Housing in East Prairie, Missouri: A Three-Decade LIHTC Journey
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
East Prairie, Missouri, a small city with a population of 3,491 as of 2022, has a distinct affordable housing landscape shaped by the Low-Income Housing Tax Credit (LIHTC) program. The city's LIHTC-funded affordable housing inventory comprises 70 total units, of which 43 are designated as low-income units. These units represent approximately 5.2% of the city's estimated total housing stock of 1,338 units.
East Prairie has received $176,503 in project tax credits through the LIHTC program. With three projects, this amounts to an average of $58,834 per project or $2,521 per unit. The city's share of Missouri's total LIHTC funding is 0.05%, indicating a relatively small portion of the state's affordable housing resources.
Affordable housing development in East Prairie spans over three decades. The first LIHTC project, Eagles Landing Apartments Phase II, was completed in 1991, and the most recent, Eagles Landing, was finished in 2009. The 1990s saw the highest activity in affordable housing development, with two out of the three projects completed during this period.
The LIHTC-funded housing stock in East Prairie offers a variety of unit types. The inventory includes 35 two-bedroom units, 27 three-bedroom units, and 8 one-bedroom units. This distribution suggests a focus on accommodating small to medium-sized families.
East Prairie has experienced a gradual population decline over the past decade, decreasing from 3,848 in 2013 to 3,491 in 2022. Despite this decrease, the median income has shown some fluctuation, rising from $26,534 in 2013 to $29,930 in 2022. This modest income growth may indicate a continued need for affordable housing options.
The racial composition of East Prairie has remained predominantly white, with a slight increase in diversity. The percentage of white residents decreased from 92% in 2013 to 94% in 2022, while the percentage of residents identifying as two or more races increased from 0% to 5% during the same period.
East Prairie's LIHTC-funded affordable housing inventory, while modest in size, plays a role in addressing the city's housing needs. The three LIHTC projects developed over an 18-year span provide a range of housing options, primarily catering to small and medium-sized households. Despite a declining population, the city's median income growth and subtle shifts in racial diversity suggest an ongoing need for affordable housing options. The LIHTC program's contribution, though small in the context of the state's overall funding, remains a significant component of East Prairie's efforts to provide affordable housing for its residents.
