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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 63385, located in Wentzville, Missouri, has a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The area contains 629 total units in LIHTC funded projects, with 426 of these designated as low-income units. Based on the estimated housing inventory of 19,875 units for the zip code, the LIHTC funded affordable housing comprises approximately 3.2% of the total housing stock.
The LIHTC program has invested $4,248,339 in tax credits for affordable housing projects in this zip code. This equates to an average federal funding of about $6,754 per unit. Notably, this zip code accounts for 1.21% of the total LIHTC funding allocated to the state of Missouri.
Affordable housing has been present in this community for nearly three decades. The initial LIHTC projects were completed in 1994, including multiple units on Coco Place. The most recent project, Stone Ridge Villas, was completed in 2016 and specifically targets individuals with disabilities.
The 2000s witnessed significant affordable housing development in this zip code. Notable projects from this period include Hidden Valley Estates (2004), Peine Lakes Apartments (2006), and Hickory Hollow (2006). The early 2010s also saw continued development with projects such as Green Gables II Senior Living and Villas At Peruque Hills II, both completed in 2011.
The LIHTC funded housing in this zip code offers a diverse range of unit types. There are 48 one-bedroom units, 286 two-bedroom units, and 247 three-bedroom units, catering to various household sizes and needs.
Over the past decade, the zip code has experienced significant population growth, increasing from 36,746 in 2013 to 51,874 in 2022. This 41% population increase coincides with a rise in median income from $79,143 in 2013 to $95,356 in 2022, representing a 20.5% increase.
The racial composition of the zip code has remained relatively stable, with a slight decrease in the white population from 91% in 2013 to 86% in 2022. There has been a small increase in diversity, with the Black population growing from 4% to 6%, and the Asian population from less than 1% to 2% during this period.
Zip code 63385 has an established LIHTC funded affordable housing inventory, covering about 3.2% of the estimated housing stock. The area has seen consistent development of affordable housing projects over nearly three decades, with a mix of unit types to accommodate various household sizes. While the population and median income have grown significantly over the past decade, the percentage of LIHTC funded housing remains relatively low compared to the total housing stock. This analysis provides insight into the affordable housing landscape of the zip code.