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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 63146 in Maryland Heights, Missouri, has a population of 32,231 as of 2022. The Low-Income Housing Tax Credit (LIHTC) program has funded 203 affordable housing units in this area, with 128 of these specifically designated as low-income units. Based on the estimated housing inventory of 12,349 units, LIHTC-funded affordable housing covers approximately 1.64% of the zip code's housing stock.
The LIHTC projects in this zip code have received $1,300,000 in tax credits, averaging about $6,404 per unit in federal funding. This represents 0.37% of Missouri's total LIHTC allocation, indicating a modest but notable investment in affordable housing for this area.
There are two LIHTC-funded projects in the zip code: Covenant Place I, completed in 2016, and Covenant Place II, completed in 2019. This suggests that affordable housing development has been relatively recent in this area, spanning just three years. The 2010s saw the most affordable housing activity in this zip code.
All 203 units in these projects are one-bedroom apartments, indicating a focus on housing for individuals or small households. Notably, Covenant Place II targets a handicapped population, which may include specialized design features or services to accommodate residents with disabilities.
Over the past decade, the zip code has experienced steady population growth, increasing from 29,447 in 2010 to 32,231 in 2022. The median income has also risen, from $74,981 in 2013 to $80,454 in 2022, suggesting an overall improvement in economic conditions.
Racial demographics have shifted slightly, with the white population decreasing from 72% in 2013 to 63% in 2022. Concurrently, there have been increases in Asian (9% to 16%) and Black (11% to 15%) populations, indicating growing diversity in the area.
The development of LIHTC projects in 2016 and 2019 aligns with this population growth and increasing diversity, potentially responding to changing housing needs in the community.
Zip code 63146 has seen recent investment in affordable housing through the LIHTC program, with two projects completed in the last decade providing 203 one-bedroom units. While this represents a small portion of the estimated housing stock, it marks a significant step in addressing affordable housing needs. The focus on one-bedroom units and accommodation for handicapped residents suggests a targeted approach to meeting specific community needs. As the area continues to grow and diversify, ongoing assessment of affordable housing requirements will be crucial to ensure a balanced housing market.