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Affordable Housing in Knoches Park: A Decades-Long Commitment through LIHTC
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Knoches Park, a neighborhood in Kansas City, Missouri, has a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The neighborhood contains 176 affordable housing units, all designated as low-income units. Based on the 2022 population of 3,126 and an estimated 1,198 housing units, LIHTC funded affordable housing comprises approximately 14.7% of the neighborhood's estimated housing inventory. This percentage aligns with the target range of 15-20% for affordable housing stock in a well-balanced community.
The LIHTC program has made substantial investments in Knoches Park, with project tax credits totaling $1,760,726. This equates to an average federal funding of about $10,003 per affordable housing unit. The neighborhood has demonstrated a long-term commitment to affordable housing, with the first LIHTC project completed in 1991 and the most recent in 2016, spanning 25 years of development.
The 1990s saw the highest number of affordable housing projects completed, including "4658 E 37Th Ter" in 1991, "4654-6 E 37Th Terr" in 1992, and two projects in 1993: "3338-40 Elmwood" and "3437-39 Spruce." The most recent developments include "Seven Oaks Estates" and "St Michael Housing Phase I" in 2014, followed by "St. Michael's Housing Phase II" in 2016. The LIHTC funded housing in Knoches Park primarily consists of one-bedroom units, with 113 such units available. The inventory also includes 4 two-bedroom units, 7 three-bedroom units, and 8 four-bedroom units, providing options for various household sizes.
Over the past decade, Knoches Park has experienced fluctuations in population, with an overall growth trend. The population increased from 2,419 in 2013 to 3,126 in 2022, representing a 29% growth. Concurrently, the median income has shown significant improvement, rising from $18,862 in 2013 to $27,553 in 2022, a 46% increase.
The racial composition of the neighborhood has remained relatively stable, with a predominant African American population. However, there has been a slight decrease in the African American population from 78% in 2013 to 70% in 2022, alongside an increase in the Hispanic population from 10% to 17% during the same period.
The completion of LIHTC projects in 2014 and 2016 coincides with a period of population growth and rising median incomes, suggesting a continued need for affordable housing options despite improving economic conditions.
Knoches Park demonstrates a sustained commitment to affordable housing through the LIHTC program, with projects spanning over two decades. The neighborhood's affordable housing inventory, comprising 14.7% of the estimated housing stock, aligns closely with recommended targets. The predominance of one-bedroom units suggests a focus on smaller households or individuals. Despite recent economic improvements, the continued development of LIHTC projects indicates an ongoing need for affordable housing options in this evolving neighborhood.
