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Affordable Housing in Zip Code 63755: Long-term LIHTC Inventory Analysis
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 63755 in Jackson, Missouri, contains a diverse LIHTC funded affordable housing inventory. This area has 133 total affordable units, all of which are designated as low-income units. Based on an estimated 10,436 housing units in the zip code, LIHTC funded affordable housing comprises approximately 1.27% of the total housing stock.
The LIHTC projects in zip code 63755 have received $360,000 in project tax credits, averaging about $2,707 per unit. This represents 0.1% of the total state funding for LIHTC projects in Missouri, indicating a relatively small but significant contribution to the state's affordable housing efforts.
Affordable housing has been present in this zip code for over three decades. The first LIHTC project, "911 Kimbel Ln", was completed in 1987, while the most recent project with a known completion date, "Jackson Villa", was finished in 2013. The 1990s saw the most activity in affordable housing development, with three projects completed during that decade.
The inventory primarily consists of one-bedroom units (112), followed by three-bedroom units (18), and a small number of two-bedroom units (3). This distribution suggests a focus on housing for single individuals or small families.
Over the past decade, the population in zip code 63755 has grown steadily, increasing from 23,765 in 2013 to 27,237 in 2022. The median income has also risen, from $58,156 in 2013 to $65,529 in 2022, suggesting an overall improvement in economic conditions.
The racial composition has remained relatively stable, with the white population consistently representing about 93% of residents. There has been a slight increase in diversity, with small growth in the Hispanic, Black, and multi-racial populations.
Despite the population growth and rising median income, no new LIHTC projects have been reported since 2013. This could indicate that the existing affordable housing stock is meeting current needs or that other housing solutions are being utilized.
Zip code 63755 in Jackson, Missouri, has an established foundation of LIHTC funded affordable housing, with projects dating back to 1987. The current inventory covers a small percentage of the total housing stock, providing 133 low-income units, primarily one-bedroom apartments. The area has experienced population growth and increasing median incomes over the past decade, which may influence future affordable housing needs. The lack of recent LIHTC projects, despite demographic changes, suggests a need for ongoing assessment of affordable housing requirements in this community.
