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Affordable Housing in Versailles, Missouri: Three Decades of LIHTC Projects
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Versailles, Missouri, has maintained a consistent presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing for over three decades. The city's affordable housing inventory comprises 38 units, of which 20 are specifically designated as low-income. This inventory represents approximately 2% of Versailles' estimated 1,899 housing units as of 2022.
The city's LIHTC-funded projects include Fountain Apts - Versailles II, Versailles Estates, and Missouri Avenue Apts, all completed between 1991 and 1995. This period marks the most significant affordable housing development activity in Versailles. The inventory offers a diverse range of unit sizes, including 10 one-bedroom, 20 two-bedroom, and 8 three-bedroom units, accommodating various household compositions.
Versailles has experienced population growth over the past decade, increasing from 4,339 in 2014 to 4,957 in 2022, a 14.2% rise. This growth may indicate an increasing demand for housing, including affordable options. The city's median income has fluctuated, ranging from $30,387 in 2015 to $45,005 in 2022, potentially impacting affordable housing demand.
The racial demographics of Versailles have shown slight changes. The predominantly white population decreased from 93% in 2014 to 88% in 2022. Hispanic representation increased from 1% to 5%, and residents identifying as two or more races grew from 2% to 6% during the same period.
Despite its modest size, Versailles' LIHTC-funded affordable housing inventory has been a consistent part of the city's housing landscape for over 30 years. The 38 affordable units, including 20 low-income units, constitute a small fraction of the city's estimated housing stock. While the city has experienced population growth and median income fluctuations over the past decade, there has been no recent LIHTC-funded development. The changing demographics of Versailles, particularly the slight increase in diversity, may influence future affordable housing needs and strategies in the city.
