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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The Peabody, Darst, Webbe neighborhood in St. Louis, Missouri, exhibits a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory comprises 183 total units, with 84 designated as low-income units. Based on the 2022 population of 993 and using the national average household size, the estimated housing units in the neighborhood are approximately 380. LIHTC funded affordable housing accounts for about 48% of the estimated housing inventory, indicating a substantial contribution to the neighborhood's affordable housing needs.
The neighborhood has witnessed LIHTC projects for over two decades. The first project, King Louis Square, was completed in 2001, and the most recent, Old Frenchtown II (Site 2), was finished in 2004. This demonstrates a sustained commitment to affordable housing in the area. The early 2000s appear to be the period with the most affordable housing development activity in this neighborhood.
The LIHTC funded projects offer a diverse range of unit types. Out of the total 183 units, there are 8 one-bedroom, 10 two-bedroom, 14 three-bedroom, and 2 four-bedroom units. This variety caters to different household sizes and needs within the low-income population.
Over the past decade, the neighborhood has experienced demographic shifts. The population peaked in 2016 at 1,545 residents but has since declined to 993 in 2022. Despite this population decrease, the median income has shown an overall upward trend, rising from $33,495 in 2013 to $58,118 in 2022.
The racial composition of the neighborhood has also changed. The Black population, which comprised 71% of residents in 2013, decreased to 45% by 2022. Conversely, the White population increased from 26% to 50% during the same period. This demographic shift could potentially impact the need for affordable housing in the area.
No new LIHTC projects have been recorded in the last decade. This could be attributed to the rising median income and changing demographics, possibly indicating a reduced need for additional low-income housing during this period.
The Peabody, Darst, Webbe neighborhood has a substantial LIHTC funded affordable housing inventory, covering nearly half of the estimated housing units. The existing projects, developed in the early 2000s, offer a range of unit sizes to accommodate various household needs. While the neighborhood has experienced demographic changes in recent years, including population decline and shifts in racial composition, the median income has generally increased. These factors may have influenced the absence of new LIHTC projects in the past decade. The existing affordable housing stock continues to play a crucial role in meeting the community's housing needs, even as the neighborhood evolves.