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Affordable Housing in Olathe, Kansas: LIHTC's Impact on Urban 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
Olathe, Kansas, a city in Johnson County, has a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. As of 2022, Olathe's population was 145,597, with 1,426 total units in LIHTC-funded projects, of which 1,167 are designated as low-income units. The LIHTC-funded affordable housing comprises approximately 2.56% of the city's estimated housing stock of 55,784 units.
Olathe has received $4,285,656 in project tax credits through the LIHTC program. With approximately 18 projects, this translates to an average federal funding of $238,092 per project. The average federal funding per unit is $3,005, considering the total 1,426 units in LIHTC-funded projects. Olathe holds 3% of the total state LIHTC funding, indicating its significance in Kansas's affordable housing landscape.
The city's involvement with LIHTC-funded affordable housing began in 1987 with the Jefferson Place Apartments and continued through 2008 with the Gardens at Creekside project. This 21-year span demonstrates a long-standing commitment to affordable housing in Olathe. The 1990s saw the most affordable housing projects completed, including developments such as Clarion Park, Indian Meadows, and Ridge View Apartments.
Olathe's LIHTC-funded affordable housing inventory includes a mix of unit types. The city has 176 one-bedroom units, 833 two-bedroom units, and 106 three-bedroom units. This distribution suggests a focus on accommodating various household sizes, with a particular emphasis on two-bedroom units.
Demographic trends over the last decade show that Olathe has experienced steady population growth, increasing from 134,316 in 2015 to 145,597 in 2022. The median income has also risen significantly, from $80,242 in 2015 to $100,972 in 2022. This upward trend in income may influence the demand for affordable housing in the city.
Racial distribution data from 2022 indicates that Olathe is predominantly white (77%), with Hispanic (9%), multiracial (5%), and Asian (4%) populations representing significant minority groups. The racial composition has remained relatively stable since 2015, with slight variations in percentages.
In conclusion, Olathe's LIHTC-funded affordable housing inventory represents a small but important portion of the city's housing stock. The city has consistently developed affordable housing projects over two decades, with a focus on diverse unit types to accommodate various household sizes. While the rising median income might affect affordable housing needs, the steady population growth suggests an ongoing demand for diverse housing options. The LIHTC program continues to play a crucial role in Olathe's efforts to provide affordable housing for its residents.
