Loading Content...
Affordable Housing in Kansas City's Downtown: A Decade of Change and Stability
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The Central Business District - Downtown neighborhood of Kansas City, Missouri, contains a significant number of Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. The area has 549 total affordable units, all of which are designated as low-income units. This neighborhood has experienced substantial population growth and development in recent years, making its affordable housing inventory notable.
Based on the 2022 population of 8,841 and using the national average household size of 2.61, the estimated number of housing units in the neighborhood is approximately 3,387. The 549 LIHTC-funded affordable units represent about 16.2% of this estimated housing inventory, which aligns with the target percentage of 15-20% for affordable housing stock in a well-balanced community.
The LIHTC program has made significant investments in this neighborhood, with project tax credits totaling $3,657,459. This equates to an average federal funding of about $6,662 per affordable unit. The neighborhood's LIHTC-funded affordable housing projects span nearly two decades, with the earliest projects, Chambers Lofts and Hanover Lofts, completed in 2003. The most recent dated project, East Village Apartments, was completed in 2011, indicating a sustained commitment to affordable housing in the area.
The 2000s saw the most affordable housing development activity, with eight out of the ten projects completed during this decade. Notable projects include the Finance Building Lofts (2004), Waltower Lofts (2005), and the Historic Professional Building (2007). The affordable housing inventory in this neighborhood primarily consists of one-bedroom units (379), followed by two-bedroom units (114). There is also one efficiency unit and one three-bedroom unit, suggesting a focus on housing for smaller households or individuals.
Over the past decade, the neighborhood has experienced significant population growth, increasing from 5,507 in 2013 to 8,841 in 2022. This 60% population increase has been accompanied by a substantial rise in median income, from $33,259 in 2013 to $60,910 in 2022. The racial composition of the neighborhood has also shifted. The percentage of white residents increased from 57% in 2013 to 61% in 2022, while the proportion of Black residents decreased from 28% to 21%. The Asian population saw a modest increase from 3% to 7% during this period.
Despite the absence of new LIHTC projects since 2011, the neighborhood's rapid population growth and rising incomes suggest a changing economic landscape. This shift may have altered the demand for affordable housing or created challenges in developing new LIHTC projects in an increasingly valuable real estate market. The Central Business District - Downtown neighborhood of Kansas City maintains a substantial inventory of LIHTC-funded affordable housing, representing about 16.2% of the estimated housing stock. This aligns well with recommended targets for affordable housing. The area has seen significant investment through the LIHTC program, with projects spanning from 2003 to 2011.
The neighborhood has undergone considerable demographic changes in the past decade, including rapid population growth, rising median incomes, and shifts in racial composition. These changes may have implications for future affordable housing needs and development in the area. While no new LIHTC projects have been reported since 2011, the existing affordable housing stock continues to play a crucial role in this evolving urban landscape.
