Loading Content...
Affordable Housing in Mount Vernon, Missouri: Two Decades of LIHTC Projects
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Mount Vernon, Missouri, a city with a population of 8,935 as of 2022, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory comprising 30 total units. All of these units are designated as low-income units. Based on the estimated housing inventory of 3,423 units, the LIHTC-funded affordable housing represents approximately 0.88% of the city's housing stock.
Mount Vernon has two LIHTC-funded projects: Southwind Apts and Misty Creek. Southwind Apts was completed in 2000, while Misty Creek was finished in 2004. This indicates that affordable housing has been present in the city for over two decades.
The 2000s saw the most affordable housing development activity in Mount Vernon. Southwind Apts provides 16 units, including 12 two-bedroom and 4 three-bedroom apartments. Misty Creek offers 14 three-bedroom units. In total, the LIHTC-funded projects in Mount Vernon consist of 12 two-bedroom and 18 three-bedroom units, catering to families of various sizes.
Over the past decade, Mount Vernon's population has shown an overall increasing trend, growing from 7,685 in 2013 to 8,935 in 2022. The median income has also risen, from $43,531 in 2013 to $52,788 in 2022, indicating a general improvement in economic conditions.
Mount Vernon has remained predominantly white, with the white population consistently accounting for over 90% of the total population throughout the last decade. There have been slight fluctuations in other racial groups, but they represent small percentages of the overall population.
Despite the population growth and increase in median income, no new LIHTC projects have been developed in Mount Vernon since 2004. This could be due to various factors, including changes in housing needs, availability of other affordable housing programs, or shifts in local housing policies.
Mount Vernon's LIHTC-funded affordable housing inventory consists of 30 units across two projects, representing a small fraction of the city's estimated housing stock. The projects, completed in the early 2000s, provide a mix of two- and three-bedroom units. While the city has experienced population growth and increased median income over the past decade, there has been no recent LIHTC development activity. This analysis provides insight into the current state of LIHTC-funded affordable housing in Mount Vernon and its relationship to demographic trends.
