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Affordable Housing in Monroe City, Missouri: LIHTC Program's Long-Term Impact
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Monroe City, Missouri, maintains a limited Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory consisting of 46 units, all designated as low-income. These units form a significant portion of the city's estimated housing needs. Based on the 2022 population of 3,605 and using the national average household size, Monroe City's estimated total housing units are approximately 1,381. The LIHTC-funded affordable housing units represent about 3.3% of this estimated housing inventory.
Monroe City has received $180,756 in project tax credits through the LIHTC program. With approximately two projects, this translates to an average of $90,378 in federal funding per project. When divided by the total 46 units, it amounts to an average of $3,929 in federal funding per unit. The city holds 0.05% of the total state LIHTC funding, indicating a relatively small portion of Missouri's overall affordable housing investment.
The first LIHTC project in Monroe City, Belle Field Apts, was completed in 1990, while the most recent project, Bellefield Estates, was finished in 2011. This 21-year span demonstrates a long-term commitment to affordable housing in the city. The 2010s saw the most recent affordable housing development with the completion of Bellefield Estates in 2011.
The LIHTC-funded housing inventory in Monroe City consists of 10 one-bedroom units, 34 two-bedroom units, and 2 three-bedroom units. This distribution suggests a focus on accommodating small to medium-sized families.
Over the past decade, Monroe City has experienced population growth, increasing from 2,955 in 2019 to 3,605 in 2022. The median income has also risen, from $39,683 in 2019 to $43,816 in 2022. Despite this growth, no new LIHTC projects have been completed since 2011. The racial composition of the city has remained relatively stable, with a slight decrease in the white population from 89% in 2013 to 86% in 2022, and a small increase in diversity across other racial categories.
Monroe City's LIHTC-funded affordable housing stock represents a significant portion of the city's estimated housing inventory. The city has maintained its affordable housing units over time, with projects dating back to 1990. Despite recent population and income growth, no new LIHTC projects have been developed in the past decade. The existing units primarily cater to small and medium-sized families, with a mix of one, two, and three-bedroom options. The current inventory may need to be supplemented by other housing programs to meet the full spectrum of affordable housing needs in the community.
