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Affordable Housing in Scott City, Kansas Zip Code 67871: LIHTC's Initial Impact
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Scott City, Kansas, zip code 67871, is a rural area with a population of 4,956 as of 2022. The Low-Income Housing Tax Credit (LIHTC) program has funded affordable housing in this zip code, contributing 2 low-income units to the area's housing inventory. Based on the estimated 1,899 housing units in the zip code, LIHTC-funded affordable housing covers approximately 0.11% of the total housing stock.
The LIHTC program has invested $385,521 in tax credits for affordable housing projects in this zip code. This translates to an average federal funding of $192,760 per unit. Notably, this zip code accounts for 0.27% of the total LIHTC funding allocated to Kansas.
The sole LIHTC-funded project in this zip code is Eastridge Villas, completed in 2019. This project marks the beginning of LIHTC-funded affordable housing in the area, providing two two-bedroom units for low-income residents.
Over the past decade, the population in this zip code has shown slight fluctuations, with a notable increase from 4,717 in 2020 to 5,006 in 2021, before slightly decreasing to 4,956 in 2022. The median income has experienced a downward trend, decreasing from $75,719 in 2018 to $51,541 in 2022. This decline in median income could indicate an increasing need for affordable housing options in the area.
The racial demographics have remained relatively stable, with a slight increase in diversity. The white population has decreased from 81% in 2019 to 75% in 2022, while the Hispanic population has grown from 16% to 22% during the same period. This shift in demographics may influence future affordable housing needs and development strategies.
The LIHTC program has made a modest contribution to affordable housing in zip code 67871, with one project providing two low-income units. While this represents a small percentage of the estimated housing stock, it marks the beginning of LIHTC-funded affordable housing in the area. The recent decline in median income and slight increase in population diversity suggest a potential growing need for affordable housing options. Continued monitoring of demographic trends and housing needs will be crucial for future affordable housing development in this zip code.
