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Affordable Housing in Lee's Summit: A Decade of LIHTC Development
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Lee's Summit, Missouri, has a population of 104,336 as of 2022. The city's Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory comprises 346 total units, with 345 designated as low-income units. This represents approximately 0.87% of the city's estimated housing inventory of 39,975 units.
Lee's Summit has received $1,818,170 in project tax credits through the LIHTC program. With approximately 5 projects, this translates to an average federal funding of $363,634 per project and $5,254 per unit. The city holds 0.52% of Missouri's total state LIHTC funding.
The LIHTC funded affordable housing in Lee's Summit spans from 2001 to 2011, indicating a decade-long presence of this program in the city. The first project built was Ashbrooke-Yarco Apts in 2001, while Summit Grove Senior Apts was completed in 2011. The 2000s saw the most affordable housing projects completed, with notable developments including Wilshire Hills in 2006 and Sage Crossing Apts in 2007.
The city's LIHTC funded housing stock comprises 50 one-bedroom units, 154 two-bedroom units, and 97 three-bedroom units, providing a diverse range of options for different household sizes.
Over the past decade, Lee's Summit has experienced steady population growth, increasing from 91,229 in 2010 to 104,336 in 2022. The median income has also shown an upward trend, rising from $77,014 in 2013 to $89,140 in 2022, with some fluctuations in between.
Regarding racial demographics, the most recent data from 2022 shows that the city is predominantly white (77%), with Black (9%), Hispanic (6%), and Asian (2%) populations representing significant minority groups. The racial composition has remained relatively stable since 2014, with a slight increase in diversity.
Lee's Summit's LIHTC funded affordable housing inventory, while modest in comparison to the overall housing stock, provides 345 low-income units across approximately 5 projects. The city has received over $1.8 million in tax credits, representing 0.52% of Missouri's LIHTC funding. The development of these projects spanned a decade, with the most activity occurring in the 2000s. As the city continues to grow in population and median income, ongoing assessment of affordable housing needs will be crucial to ensure adequate housing options for all residents.
