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Affordable Housing in Zip Code 63125: Two Decades of LIHTC Development in Lemay, Missouri
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 63125 in Lemay, Missouri, contains a significant inventory of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area encompasses 418 total units in LIHTC funded projects, with 382 designated as low-income units. Based on the 2022 population of 33,153 and an estimated 12,702 housing units, the LIHTC funded affordable housing comprises approximately 3.29% of the zip code's housing inventory.
The LIHTC projects in zip code 63125 have received $526,000 in project tax credits, averaging about $1,258 per unit in federal funding. This represents 0.15% of Missouri's total LIHTC funding, indicating a modest but significant investment in affordable housing for this area.
Affordable housing has been a consistent feature of zip code 63125 for over two decades. The first LIHTC project, Hillside Affordable Assoc, was completed in 1995. The most recent project, Lemay Homes, was finished in 2016. The early 2000s saw the most activity, with three projects completed in that year alone: Hillside II Apts, Kingston Valley Apts, and Park Ridge Apts.
The LIHTC funded housing in zip code 63125 offers a range of unit types. There are 14 efficiencies, 107 one-bedroom units, 243 two-bedroom units, 50 three-bedroom units, and 4 four-bedroom units. This distribution caters to various household sizes and needs within the community.
Over the past decade, the population in zip code 63125 has remained relatively stable, fluctuating between 33,000 and 34,000 residents. The median income has shown a gradual increase from $48,943 in 2013 to $53,089 in 2022, suggesting a slight improvement in economic conditions.
Racial demographics in zip code 63125 have shifted slightly. The white population has decreased from 90% in 2013 to 85% in 2022. There has been a small increase in racial diversity, with slight growth in Asian, Black, and Hispanic populations. This demographic shift may indicate a changing need for diverse housing options.
Despite no new LIHTC projects being built since 2016, the stable population and modest income growth suggest that the existing affordable housing stock may still be meeting a portion of the community's needs.
Zip code 63125 has an established foundation of LIHTC funded affordable housing, developed over more than two decades. The affordable units represent a small percentage of the total housing stock but provide important options for low-income residents. The area has seen stable population levels and slight increases in income and diversity over the past decade. These factors, combined with the mix of unit types available in LIHTC projects, indicate that the affordable housing inventory continues to play a vital role in the community, even as demographic changes occur.
