Loading Content...
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The M.L. King Jr. Park neighborhood in Des Moines, Iowa, contains a significant number of Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. The neighborhood has 64 affordable units, all designated as low-income. Based on the 2022 population of 2,507 and an estimated 960 housing units, LIHTC funded affordable housing comprises approximately 6.7% of the neighborhood's estimated housing inventory.
The LIHTC program has invested $797,675 in tax credits for affordable housing projects in this neighborhood. This equates to an average federal funding of $12,464 per unit. The Rose of East Des Moines, completed in 2008, is the primary LIHTC project in the area. This project has provided affordable housing in the neighborhood for over a decade.
The affordable housing inventory in M.L. King Jr. Park consists of 58 one-bedroom units and 6 two-bedroom units. This distribution indicates a focus on accommodating smaller households or individuals in need of affordable housing options.
Over the past decade, the neighborhood's population has remained relatively stable, fluctuating between 2,400 and 2,800 residents. The median income has varied, ranging from approximately $35,000 to $42,000. This income level suggests a continued need for affordable housing options in the area.
The racial composition of the neighborhood has remained diverse over the years. The Hispanic population has increased slightly, growing from about 30% to 38% between 2013 and 2022. The Black population has remained relatively stable at around 30-33%, while the White population has fluctuated between 16% and 24%. The Asian population has decreased slightly from 13% to 7% during this period.
The M.L. King Jr. Park neighborhood in Des Moines has a notable presence of LIHTC funded affordable housing, with 64 units comprising approximately 6.7% of the estimated housing inventory. The Rose of East Des Moines, completed in 2008, represents a significant investment in affordable housing for the area. The housing stock primarily consists of one-bedroom units, indicating a focus on smaller households. The neighborhood's demographic trends, including a stable population and moderate income levels, suggest an ongoing need for affordable housing options. The area's racial diversity has remained relatively consistent over the past decade, with a slight increase in the Hispanic population.