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Affordable Housing in St. Charles, Missouri: Two Decades of LIHTC Development
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
St. Charles, Missouri, a city along the Missouri River, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 313 total units, with 237 designated as low-income units. This comprises approximately 1.15% of the city's estimated 27,276 housing units. The LIHTC program in St. Charles has received $2,502,100 in project tax credits, averaging $500,420 per project or $7,994 per unit. St. Charles holds 0.71% of Missouri's total LIHTC funding.
The LIHTC program has been active in St. Charles for over two decades, with the first project completed in 1995 and the most recent in 2020. The 2010s saw the most affordable housing development, with three projects completed during this decade. The LIHTC-funded units in St. Charles include 165 one-bedroom, 91 two-bedroom, and 57 three-bedroom units, catering to various household compositions within the low-income population.
St. Charles has experienced steady population growth, increasing from 65,993 in 2010 to 71,190 in 2022. The median income has risen significantly, from $53,739 in 2013 to $85,798 in 2022. The racial composition of St. Charles has remained relatively stable, with a slight decrease in the white population from 85% in 2013 to 80% in 2022, and small increases in other racial groups.
The LIHTC-funded affordable housing inventory in St. Charles represents a consistent commitment to providing low-income housing options. The program has evolved over more than two decades, with a focus on development in the 2010s. The diverse unit sizes and targeted projects, such as West Clay Senior Living Phase II completed in 2020 for the handicapped population, demonstrate an effort to address varied housing needs within the low-income community.
As St. Charles continues to grow and diversify, ongoing attention to affordable housing development may be necessary to meet the evolving needs of its population. The city's economic growth, as evidenced by the significant increase in median income, may influence the continued need for affordable housing options.
In summary, St. Charles' LIHTC-funded affordable housing program, while modest in relation to the city's overall housing stock, has played a role in addressing low-income housing needs over the past two decades. The program's evolution and the city's changing demographics suggest that affordable housing will remain an important consideration in St. Charles' urban development strategies.
