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Affordable Housing in Independence, Missouri: LIHTC Program's Impact on the Queen City of the Trails
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Independence, Missouri, historically significant as a starting point for major westward trails, has a substantial presence of affordable housing funded through the Low-Income Housing Tax Credit (LIHTC) program. The city's LIHTC-funded inventory comprises 1,667 total units, with 1,458 designated as low-income units. This affordable housing covers approximately 3.59% of the city's estimated housing stock of 46,441 units.
Independence has received $10,970,908 in project tax credits through the LIHTC program. With 22 approximate projects, this translates to an average federal funding of $498,677 per project and $6,581 per unit. The city holds 3.13% of Missouri's total LIHTC funding, indicating a significant contribution to the state's affordable housing efforts.
The first LIHTC project in Independence was completed in 1988, and the most recent in 2019, demonstrating over three decades of affordable housing development in the city. The 1990s and 2000s saw the most LIHTC activity, with notable projects including Brookstone Village (1999), Sterling Creek Apartments (2000), and Hawthorne Place Apartments (2003).
The LIHTC-funded housing stock in Independence is diverse, featuring 4 efficiencies, 714 one-bedroom units, 626 two-bedroom units, 319 three-bedroom units, and 3 four-bedroom units. This variety caters to different household sizes and needs within the low-income population. One notable project is North Creek Estates, completed in 2019, which specifically targets individuals with disabilities, addressing a crucial need in the community for accessible affordable housing.
Over the past decade, Independence has experienced slight fluctuations in population, with a recent increase to 121,211 residents in 2022. The median income has shown an upward trend, rising from $42,298 in 2013 to $53,082 in 2022. This increase in median income might indicate a growing need for affordable housing options to support lower-income residents who may be facing rising living costs.
Racial demographics have shifted somewhat, with the white population decreasing from 79% in 2014 to 69% in 2022. Conversely, there have been increases in the Black population (from 5% to 11%) and Hispanic population (from 10% to 13%) during this period. These demographic changes may influence the need for culturally sensitive affordable housing options and community services.
Independence's LIHTC-funded affordable housing inventory plays a significant role in addressing the city's housing needs, covering 3.59% of the estimated housing stock. With over $10 million in tax credits invested across 22 projects, the city has maintained a steady commitment to affordable housing development over three decades. The diverse unit mix and targeted projects like North Creek Estates demonstrate efforts to meet varied housing needs. As the city's demographics continue to evolve and median income rises, ongoing attention to affordable housing development will be crucial to ensure housing accessibility for all residents.
