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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Kimberling City, Missouri, has a small LIHTC-funded affordable housing inventory. As of 2022, the city had a population of 5,438. The LIHTC program has contributed to the creation of 36 affordable housing units in the city, all of which are designated as low-income units. Based on the estimated housing inventory of 2,084 units, the LIHTC-funded affordable housing covers approximately 1.73% of the city's housing stock.
Kimberling City has received $250,028 in project tax credits through the LIHTC program. With one approximate project, this translates to an average federal funding of $250,028 per project. The average federal funding per unit is $6,945. Kimberling City holds 0.07% of the total state LIHTC funding for Missouri.
The city's LIHTC-funded affordable housing project, Cottage Hill, was completed in 2005. This project represents the entirety of LIHTC-funded affordable housing in Kimberling City, indicating that such housing has been present in the city for about 18 years.
All 36 units in the LIHTC-funded project are three-bedroom units, providing housing options suitable for families or larger households. The project does not have a specific target population listed.
Over the past decade, Kimberling City's population has fluctuated, with a peak of 6,066 in 2017 and a decline to 5,438 in 2022. The median income has shown an overall upward trend, increasing from $48,815 in 2013 to $58,279 in 2022, with a peak of $62,319 in 2018.
The racial composition of Kimberling City has remained relatively stable, with the white population consistently comprising over 90% of the total. There has been a slight increase in diversity, with the percentage of residents identifying as two or more races growing from 1% in 2013 to 4% in 2022.
The lack of new LIHTC projects in the last decade may be attributed to the city's relatively stable population and increasing median income, which could indicate a reduced need for additional low-income housing units.
Kimberling City's LIHTC-funded affordable housing inventory consists of a single project, Cottage Hill, completed in 2005. This project provides 36 three-bedroom units, all designated as low-income housing. While the LIHTC-funded units represent a small portion of the city's estimated housing stock, they contribute to addressing affordable housing needs in the community. The city has experienced modest population fluctuations and an overall increase in median income over the past decade, which may have influenced the lack of additional LIHTC projects in recent years.