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Affordable Housing in Wentzville: LIHTC Funding and Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Wentzville, Missouri, a city in St. Charles County, has 629 units in Low-Income Housing Tax Credit (LIHTC) funded affordable housing projects, with 426 designated as low-income units. These LIHTC-funded units represent approximately 3.62% of the city's estimated 17,389 housing units.
The city has received $4,248,339 in project tax credits through the LIHTC program, distributed across approximately 14 projects. This amounts to an average of $303,453 in federal funding per project and $6,754 per unit. Wentzville's share of Missouri's total LIHTC funding is 1.21%, indicating a small but notable portion of the state's affordable housing investment.
LIHTC projects in Wentzville span from 1994 to 2016, demonstrating over two decades of affordable housing development. The 1990s saw several projects completed, including multiple units on Coco Place. Significant developments continued in the 2000s and early 2010s, with projects such as Hidden Valley Estates (2004), Peine Lakes Apartments (2006), and Green Gables II Senior Living (2011).
The LIHTC-funded housing in Wentzville comprises 48 one-bedroom, 286 two-bedroom, and 247 three-bedroom units, suggesting a focus on accommodating families and larger households. A notable project is Stone Ridge Villas, completed in 2016, which targets individuals with disabilities.
Wentzville's population has grown significantly, increasing from 32,494 in 2013 to 45,386 in 2022, a growth rate of nearly 40%. The median income has also risen from $78,720 in 2013 to $94,013 in 2022. The city's racial composition has remained predominantly white, though decreasing from 92% in 2013 to 86% in 2022. The Black population increased from 4% to 6%, and the Asian population from less than 1% to 2% during this period.
Despite population growth and increasing median income, few new LIHTC projects have been developed in recent years. This could be due to rapid economic growth outpacing the need for additional affordable housing, or it may indicate a need to reassess affordable housing requirements in light of changing demographics.
Wentzville's LIHTC-funded affordable housing represents a small but important part of the city's housing stock. The city has seen consistent investment in affordable housing over past decades, with various unit sizes accommodating different household needs. As the population and median income have grown significantly in recent years, the rate of new LIHTC projects has slowed. Ongoing assessment of affordable housing needs will be crucial to ensure a balanced housing market for all residents as the city continues to expand and evolve.
