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Affordable Housing in Springfield, Missouri: LIHTC Impact on Queen City
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Springfield, Missouri, known as the "Queen City of the Ozarks," has a significant inventory of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The city has 2,514 total units in LIHTC funded projects, with 2,099 of these designated as low-income units. Based on the estimated housing inventory of 65,158 units, the LIHTC funded affordable housing covers approximately 3.9% of the city's housing stock.
Springfield has received $16,471,037 in project tax credits for affordable housing through the LIHTC program. With approximately 50 projects, this translates to an average of $329,421 in federal funding per project, or $6,551 per unit. The city holds 4.7% of the total state LIHTC funding, indicating a significant portion of Missouri's affordable housing investment.
The LIHTC program has been active in Springfield for over three decades, with the first projects, Wilshire-Hughes I and II, completed in 1987. The most recent project, Y Gardens, was finished in 2020. The 1990s saw the most affordable housing development, with multiple projects completed each year throughout the decade.
Springfield's LIHTC inventory includes a diverse range of unit types. There are 103 efficiencies, 784 one-bedroom units, 772 two-bedroom units, 261 three-bedroom units, and 30 four-bedroom units. This variety caters to different household sizes and needs within the low-income population.
Several recent projects have targeted specific populations. For example, James Place, Beacon Village Phase II, McClernon Villas, Talia Apartments, Villas At Lark Pointe, and Y Gardens are all designed to accommodate individuals with disabilities, addressing the unique housing needs of this community.
Over the past decade, Springfield has experienced steady population growth, increasing from 159,643 in 2010 to 170,062 in 2022. The median income has also risen significantly, from $30,445 in 2013 to $45,400 in 2022. Despite this economic growth, the continued development of LIHTC projects suggests an ongoing need for affordable housing.
Racial demographics have remained relatively stable, with the white population comprising the majority at 83% in 2022. The Hispanic population has shown a slight increase from 4% in 2015 to 5% in 2022, while other racial groups have maintained similar proportions.
Springfield's LIHTC funded affordable housing inventory represents a substantial investment in addressing the city's low-income housing needs. With over 2,500 units across approximately 50 projects, the program has provided a consistent source of affordable housing over the past three decades. The diversity of unit types and recent focus on accommodating individuals with disabilities demonstrate efforts to meet varied community needs. While the LIHTC funded units cover only a small percentage of the city's estimated housing stock, they play a crucial role in Springfield's affordable housing landscape.
