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Affordable Housing in Warrenton, Missouri: LIHTC's Impact on a Small City
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Warrenton, Missouri, a city with a population of 13,740 as of 2022, has 128 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. These units constitute 2.43% of the city's estimated 5,264 housing units. The LIHTC program has provided $420,000 in project tax credits to Warrenton, funding approximately 7 projects. This translates to an average of $60,000 per project and $3,281.25 per unit, representing 0.12% of the total state LIHTC funding.
The first LIHTC project in Warrenton was completed in 1989 at 205 S West St, while the most recent project, Fairgrounds Villa, was completed in 2017. This indicates a nearly three-decade presence of affordable housing in the city. The 1990s saw the highest number of affordable housing projects completed, with four projects: Warrenton Apts II (1993), Warrenton Apts (1995), Village Apts Of Warrenton (1997), and Meadow Woods Apts (2000).
The LIHTC-funded housing in Warrenton consists of 60 one-bedroom units, 44 two-bedroom units, and 24 three-bedroom units. This distribution suggests a focus on smaller households and families. Notably, the Fairgrounds Villa project, completed in 2017, specifically targets the handicapped population, addressing the unique housing needs of individuals with disabilities.
Warrenton's population has shown a slight increase over the past decade, growing from 12,992 in 2010 to 13,740 in 2022. The median income has fluctuated, with a general upward trend from $52,377 in 2013 to $55,755 in 2022. This modest income growth may indicate a continued need for affordable housing options.
Racial demographics in Warrenton have remained relatively stable, with the white population consistently comprising around 90% of the total. There has been a small increase in racial diversity, with slight growth in the Hispanic population (from 2% to 4%) and those identifying as two or more races (from 2% to 4%) between 2013 and 2022.
Warrenton's LIHTC-funded affordable housing inventory represents a small but significant portion of its housing stock. The city has consistently developed affordable housing projects over the past three decades, with a focus on smaller units suitable for individuals and small families. The most recent project, targeting the handicapped population, demonstrates an effort to address specific community needs. While the city's demographics have remained relatively stable, the modest population growth and income fluctuations suggest an ongoing need for affordable housing options in Warrenton.
