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Affordable Housing in Lamar, Missouri: A Quarter-Century of LIHTC Projects
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Lamar, Missouri, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory comprising 69 units, all designated as low-income. This inventory represents approximately 4.1% of the city's estimated 1,670 total housing units. The affordable housing stock in Lamar consists of three LIHTC projects: Lamar Plaza Apts, Prairie Plains Apts, and Divine Estates, completed between 1997 and 2004.
The distribution of units across these projects varies. Lamar Plaza Apts offers 28 units, Divine Estates provides 36 units, and Prairie Plains Apts has 5 units. In total, the LIHTC projects provide 2 one-bedroom units, 44 two-bedroom units, and 23 three-bedroom units, accommodating various family sizes with an emphasis on two-bedroom apartments.
Lamar's population has shown a declining trend, decreasing from 5,255 in 2018 to 4,358 in 2022. The median income has fluctuated, with the most recent data showing $39,198 in 2022, an increase from the previous year but lower than the peak of $46,126 in 2019. These demographic changes may impact the demand for affordable housing in the city.
Regarding racial demographics, Lamar has maintained a predominantly white population, consistently above 90% throughout the past decade. There has been a slight increase in diversity, with small increases in the Hispanic population and those identifying as two or more races. These minor demographic shifts could potentially affect the city's housing needs and the types of affordable housing required.
In summary, Lamar's LIHTC funded affordable housing inventory plays a role in providing housing options for low-income residents. The projects, completed between 1997 and 2004, offer a mix of unit sizes to accommodate different household needs. While the city has experienced a declining population and fluctuating median income in recent years, these LIHTC projects continue to contribute to the affordable housing supply. The observed demographic trends in Lamar may influence future affordable housing needs and development strategies.
