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Affordable Housing in St. Peters, Missouri: A Two-Decade LIHTC Program Analysis
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. Peters, Missouri, a suburban city with a population of 95,629 as of 2022, has 210 units in Low-Income Housing Tax Credit (LIHTC) funded projects. Of these, 174 are designated as low-income units. The estimated housing inventory of 36,639 units indicates that LIHTC-funded affordable housing comprises approximately 0.57% of the city's housing stock.
St. Peters has received $3,258,486 in project tax credits through the LIHTC program. With six projects, this translates to an average federal funding of $543,081 per project and $15,517 per unit. The city holds 0.93% of the total state LIHTC funding, representing a relatively small share of Missouri's affordable housing resources.
Affordable housing has been present in St. Peters since at least 1996, with the completion of St Peters Villa. The most recent project, Queensbrooke Village Senior Living Phase, was completed in 2016, spanning two decades of LIHTC-funded development in the city. The 2010s saw the most affordable housing activity, with four projects completed during this decade.
The LIHTC-funded housing stock in St. Peters consists primarily of one-bedroom (56 units) and two-bedroom (147 units) apartments. This distribution suggests a focus on housing for small families, couples, and individuals.
Over the past decade, St. Peters has experienced steady population growth, increasing from 90,677 in 2013 to 95,629 in 2022. The median income has also risen, from $79,856 in 2013 to $86,185 in 2022, indicating overall economic improvement in the city. Despite this growth, no new LIHTC projects have been completed since 2016, which may reflect changing priorities or reduced need for additional affordable housing units.
The racial composition of St. Peters has remained relatively stable, with a slight decrease in the white population from 89% in 2013 to 86% in 2022, and small increases in Asian, Black, and multi-racial populations. This gradual diversification may influence future affordable housing needs and planning.
St. Peters' LIHTC-funded affordable housing inventory represents a small portion of the city's overall housing stock. The city has seen steady population and income growth over the past decade, with a gradual increase in racial diversity. While LIHTC development was active in the early to mid-2010s, no new projects have been completed since 2016. The existing LIHTC units primarily cater to smaller households, with a mix of one and two-bedroom apartments. As the city continues to grow and evolve, ongoing assessment of affordable housing needs will be crucial to ensure a balanced housing market for all residents.
