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Affordable Housing in Tom Watkins: Three 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
The Tom Watkins neighborhood in Springfield, Missouri, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory comprises 276 total units, all designated as low-income units. This represents approximately 12.4% of the estimated 2,231 housing units in the neighborhood, based on the 2022 population of 5,822 and the national average household size.
The Tom Watkins neighborhood has featured LIHTC-funded affordable housing projects since the late 1980s. The earliest projects, Wilshire-Hughes I and II, were completed in 1987, while John B Hughes Apts I and II followed in 1988. This indicates that affordable housing has been an integral part of the neighborhood's landscape for over three decades.
The 1980s were particularly active for LIHTC development in this area, with all four known projects completed during this decade. This early adoption of the LIHTC program suggests a long-standing commitment to affordable housing in the neighborhood. The LIHTC-funded projects include at least 56 two-bedroom units, 97 three-bedroom units, and 24 four-bedroom units, indicating a focus on accommodating families of various sizes within the affordable housing stock.
Over the past decade, the Tom Watkins neighborhood has experienced demographic shifts. The population has fluctuated, reaching a peak of 6,801 in 2017 before declining to 5,822 in 2022. This recent population decrease could potentially impact the demand for affordable housing.
Median income in the neighborhood has shown an overall upward trend, rising from $27,261 in 2013 to $33,507 in 2022. This increase in median income could affect the eligibility and need for affordable housing among residents.
Racial demographics have remained relatively stable, with the white population consistently representing the majority (83% in 2022). However, there has been a slight increase in diversity, particularly in the Hispanic population, which grew from 3% in 2013 to 8% in 2022. The proportion of residents identifying as two or more races also increased from 3% to 6% during this period.
The Tom Watkins neighborhood in Springfield, Missouri, maintains a significant LIHTC-funded affordable housing presence, with 276 units representing about 12.4% of the estimated housing inventory. The neighborhood's affordable housing stock was primarily developed in the late 1980s, demonstrating a long-standing commitment to providing low-income housing options.
Despite recent population decreases and rising median income, the neighborhood continues to maintain a diverse mix of affordable housing units. The stable racial composition with slight increases in diversity suggests that the LIHTC-funded housing may continue to play an important role in supporting the neighborhood's evolving demographics and housing needs.
