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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Peculiar, Missouri, has a unique Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory consisting of 34 units, all designated as low-income. These units represent approximately 0.93% of the city's estimated 3,651 housing units. The city has received $603,696 in project tax credits from the LIHTC program for affordable housing. This single project, Meadow View Estates, was completed in 2011, marking the beginning of LIHTC-funded affordable housing in Peculiar. The average federal funding per unit is $17,756, and Peculiar holds 0.17% of the total state funding for LIHTC projects in Missouri.
All 34 units in the LIHTC-funded project are two-bedroom units, providing a specific type of housing for residents in need of affordable options. The completion of this project in 2011 represents the most significant affordable housing development in the city during the 2010s.
Over the last decade, Peculiar has experienced population growth, increasing from 8,404 in 2017 to 9,528 in 2022. The median income has fluctuated, with a notable increase from $73,849 in 2019 to $91,238 in 2021, before decreasing to $78,656 in 2022. The city has remained predominantly white, but has seen a slight decrease in the white population from 93% in 2017 to 88% in 2022. There has been a small increase in racial diversity, with the Black population growing from 0% to 4% and the Hispanic population increasing from 2% to 6% during this period.
The completion of the LIHTC project in 2011 predates these demographic shifts, suggesting that the city anticipated a need for affordable housing before the recent population growth and changes in racial composition. This foresight in addressing affordable housing needs demonstrates the city's proactive approach to housing issues.
Peculiar's LIHTC-funded affordable housing inventory, while representing a small percentage of the city's estimated housing stock, provides a specific type of affordable housing option. The city has experienced population growth and increasing diversity in recent years, which may influence future affordable housing needs. The single LIHTC project's completion in 2011 demonstrates an early recognition of the need for affordable housing options in the community.
As Peculiar continues to grow and diversify, it may be necessary to reassess the affordable housing needs of the community. The current LIHTC-funded project serves as a foundation for affordable housing in the city, but future demographic changes may require additional investments or diversification of affordable housing options to meet evolving community needs.