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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Valley View, a neighborhood in Independence, Missouri, has 36 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. These units, all designated as low-income, comprise approximately 5.7% of the neighborhood's estimated 631 housing units, based on the 2022 population of 1,648.
The LIHTC program has invested $239,422 in tax credits for affordable housing projects in Valley View, averaging about $6,651 per unit. LIHTC projects in the neighborhood span from 1997 to 2012, indicating a 15-year period of affordable housing development.
Valley View's LIHTC inventory consists of 4 one-bedroom units and 32 two-bedroom units. This distribution suggests a focus on accommodating small families or individuals in the area's affordable housing stock.
Over the past decade, Valley View has experienced population growth, increasing from 1,172 in 2015 to 1,648 in 2022. The median income has also risen, from $31,129 in 2015 to $45,549 in 2022, potentially indicating a changing economic landscape in the neighborhood.
Racial demographics have remained relatively stable, with a predominant white population. However, there has been a slight increase in diversity, particularly in the Hispanic population, which grew from 0% in 2018 to 5% in 2022. The Asian population has fluctuated, peaking at 12% in 2018 but decreasing to 0% by 2022.
No new LIHTC projects have been built in Valley View since 2012. This could be due to the rising median income and changing demographics, possibly indicating a reduced need for additional low-income housing in recent years.
Valley View's LIHTC funded affordable housing inventory represents a significant investment in the community's housing needs. The development of these projects over a 15-year period demonstrates a sustained effort to address affordable housing needs. However, the lack of new LIHTC projects since 2012, coupled with rising median incomes and slight demographic shifts, suggests a changing landscape for affordable housing needs in Valley View.