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Affordable Housing in Piedmont, Missouri: Two-Decade LIHTC Presence
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Piedmont, Missouri, maintains a modest Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city possesses 45 affordable housing units, with 27 designated as low-income units. Based on the estimated housing inventory of 1,523 units for the city's 2022 population, LIHTC-funded affordable housing comprises approximately 2.96% of the city's housing stock.
Piedmont has two LIHTC-funded projects: Clearwater Apts and Meadowbrook Apts. Clearwater Apts was completed in 1998, while Meadowbrook Apts was finished in 2002. This indicates that affordable housing has been present in the city for over two decades. The 1990s and early 2000s saw the most affordable housing development activity in Piedmont. Clearwater Apts provides 20 units, including 4 one-bedroom and 16 two-bedroom apartments. Meadowbrook Apts offers 25 two-bedroom units, all of which are designated as low-income.
Over the past decade, Piedmont has experienced demographic shifts. The population has fluctuated, with a general declining trend from 4,570 in 2010 to 3,976 in 2022. Despite this population decrease, the median income has shown an overall increase, rising from $29,247 in 2013 to $32,971 in 2022. The racial composition of Piedmont has remained predominantly white, with a slight decrease from 97% in 2019 to 92% in 2022. There has been a small increase in diversity, with the percentage of residents identifying as two or more races growing from 1% in 2019 to 4% in 2022.
The city's demographic trends, particularly the declining population and increasing median income, may partly explain why no new LIHTC projects have been developed in the last decade. However, other factors and housing programs may also influence affordable housing needs and development in the area.
Piedmont's LIHTC-funded affordable housing inventory consists of 45 units across two projects, covering approximately 2.96% of the estimated housing stock. The projects, completed in 1998 and 2002, primarily offer two-bedroom units. While the city has experienced a slight population decline and increase in median income over the past decade, the racial composition has remained predominantly white with a small increase in diversity. These demographic shifts may have influenced the lack of new LIHTC developments in recent years, but a comprehensive understanding of affordable housing needs would require consideration of additional factors and programs beyond LIHTC.
