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Affordable Housing in Eureka, Missouri: LIHTC-Funded Senior Living Project
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Eureka, Missouri, a city with a population of 12,831 as of 2022, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory consisting of 48 total units, all of which are designated as low-income units. Based on the estimated housing inventory of 4,916 units, the LIHTC-funded affordable housing covers approximately 0.98% of the city's housing stock.
Eureka has received $530,000 in project tax credits from the LIHTC program for affordable housing. With one project, this translates to an average federal funding of $530,000 per project and $11,041.67 per unit. The city holds 0.15% of the total state funding for LIHTC projects in Missouri.
The LIHTC-funded affordable housing in Eureka is represented by a single project, Avonlea Senior Living, which was completed in 2018. This project marks the beginning of LIHTC-funded affordable housing in the city. The 2010s decade saw the most affordable housing project completions in Eureka.
Avonlea Senior Living consists of 48 units, with a mix of 12 one-bedroom and 36 two-bedroom units. This project is specifically targeted towards the handicapped population, indicating a focus on providing accessible housing for individuals with disabilities.
Over the past decade, Eureka has experienced significant population growth, increasing from 9,960 in 2010 to 12,831 in 2022. The median income has also risen substantially, from $97,013 in 2013 to $106,862 in 2022. This growth in population and income may have contributed to the need for affordable housing options, leading to the development of the Avonlea Senior Living project.
Racial demographics in Eureka have remained relatively stable, with a decrease in the white population from 91% in 2013 to 85% in 2022. There has been a small increase in diversity, with slight growth in Asian, Hispanic, and multi-racial populations.
Eureka's LIHTC-funded affordable housing inventory, while limited to one project, provides 48 units specifically tailored for handicapped individuals. The city has experienced significant population and income growth over the past decade, which may have influenced the development of affordable housing. The LIHTC-funded units represent a small percentage of the city's overall housing stock, addressing the needs of specific populations, particularly those with disabilities.
