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Affordable Housing in Marshall, Missouri: Three Decades 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
Marshall, Missouri, a city with a history in agriculture and education, has a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city has 220 total units in LIHTC-funded projects, with 218 designated as low-income units. Based on the estimated housing inventory of 5,732 units, LIHTC-funded affordable housing comprises approximately 3.84% of the city's housing stock.
Marshall has received $1,221,000 in project tax credits through the LIHTC program. With approximately 7 projects, this translates to an average federal funding of $174,429 per project and $5,550 per unit. The city holds 0.35% of Missouri's total LIHTC funding, indicating a modest contribution to the state's affordable housing efforts.
Affordable housing has been part of Marshall's landscape since at least 1988, with the completion of the project at 911 S Apache Dr. The most recent addition is Westport Village, completed in 2020, demonstrating over three decades of affordable housing development in the city. The 2000s saw the most activity in affordable housing construction, with projects like Valley Southwest Apts (2002) and Deer Creek Apts (2009) being completed.
The LIHTC-funded housing in Marshall offers a range of unit types, with 64 one-bedroom, 60 two-bedroom, and 24 three-bedroom units. This variety caters to different household sizes and needs within the low-income population. Westport Village, completed in 2020, specifically targets individuals with disabilities, addressing a need in the community for accessible affordable housing.
Over the past decade, Marshall's population has remained stable, with a slight increase from 14,442 in 2010 to 14,960 in 2022. The median income has shown a positive trend, rising from $42,361 in 2013 to $49,168 in 2022, indicating a gradual improvement in economic conditions. Racial demographics have shifted slightly, with the white population decreasing from 77% in 2013 to 71% in 2022, while the Hispanic population increased from 12% to 16% during the same period. This diversification may influence future affordable housing needs and designs.
Marshall's LIHTC-funded affordable housing inventory provides essential housing options for low-income residents. The city has maintained a commitment to affordable housing development over three decades, with recent projects addressing specific needs such as housing for individuals with disabilities. As the city's demographics continue to evolve, ongoing assessment and development of affordable housing will be crucial to meet the changing needs of Marshall's diverse population.
