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Affordable Housing in East Walnut: LIHTC Impact and Demographic Shifts
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 Walnut, a neighborhood in Columbia, Missouri, has an affordable housing landscape influenced by the Low-Income Housing Tax Credit (LIHTC) program. The neighborhood contains one LIHTC-funded project, Lakewood Apartments, which provides 100 total units, including 1 designated low-income unit. Based on the 2022 population of 908 residents and an estimated 348 housing units, the LIHTC-funded affordable housing comprises approximately 28.7% of the neighborhood's estimated housing inventory.
The LIHTC program has invested $162,984 in tax credits for affordable housing in East Walnut. This equates to an average federal funding of $1,630 per unit in the Lakewood Apartments project. Completed in 2005, Lakewood Apartments has been offering affordable housing options in the neighborhood for over 15 years.
Lakewood Apartments features a diverse unit distribution, offering 36 one-bedroom units, 52 two-bedroom units, and 12 three-bedroom units. This variety accommodates different household sizes and needs within the community.
East Walnut has experienced significant demographic changes over the past decade. The population has fluctuated, reaching a peak of 1,182 residents in 2018 before decreasing to 908 in 2022. Median income has shown considerable volatility, declining from a high of $52,537 in 2017 to $30,386 in 2022. This reduction in median income indicates a potential increase in the demand for affordable housing options.
The racial composition of the neighborhood has also evolved. The white population decreased from 93% in 2013 to 68% in 2022, while the Black population increased from 2% to 27% during the same period. The Hispanic population, though still small, grew from 0% to 3% since 2019. These changes in racial composition reflect increasing diversity in the neighborhood.
The Lakewood Apartments project, completed in 2005, predates these demographic shifts. While no new LIHTC projects have been constructed in the last decade, the existing affordable housing continues to play a role in the neighborhood's housing landscape amid these changes.
East Walnut's affordable housing inventory, centered on the Lakewood Apartments LIHTC project, represents a significant portion of the neighborhood's estimated housing stock. The project's diverse unit mix serves various household sizes. Over the past decade, the neighborhood has experienced population fluctuations, a decline in median income, and increased racial diversity. These demographic changes emphasize the ongoing importance of affordable housing options in East Walnut, even as no new LIHTC projects have been developed in recent years.
