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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 63873, located in Portageville, Missouri, features a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. This area has 112 total units in LIHTC funded projects, with 85 of those specifically designated as low-income units. Based on the estimated 1,666 housing units in the zip code, the LIHTC funded affordable housing covers approximately 6.7% of the total housing inventory.
The zip code has seen LIHTC funded affordable housing development spanning several years. The earliest recorded project, Dog Wood Apartments, was completed in 1995, while more recent developments like Lake View Apartments and Parma Apartments were finished in 2004. This indicates at least a decade of affordable housing presence in the area.
The early 2000s appear to be the most active period for LIHTC funded housing in this zip code, with three projects (Magnolia Manor, Lake View Apartments, and Parma Apartments) completed between 2003 and 2004.
Regarding unit types, the LIHTC funded projects in this zip code offer a diverse mix of housing options. There are 38 one-bedroom units, 16 two-bedroom units, and 22 three-bedroom units. This variety caters to different household sizes and needs within the community.
Over the past decade, the zip code has experienced some demographic shifts that may correlate with its affordable housing landscape. The population has seen a gradual decline, decreasing from 4,848 in 2015 to 4,348 in 2022. This trend might influence the demand for affordable housing in the area.
Median income has shown an overall upward trend, rising from $30,624 in 2015 to $40,245 in 2022, despite some fluctuations. This increase in median income could potentially impact the need for affordable housing, though income growth does not necessarily reduce demand for affordable units, as housing costs may also increase.
Racial demographics have shifted slightly, with the white population decreasing from 80% in 2015 to 74% in 2022. The Black population has remained relatively stable around 10-13% in recent years. There has been an increase in residents identifying as two or more races, growing from 1% in 2015 to 15% in 2022. These demographic changes may influence the diverse housing needs of the community.
The 63873 zip code area has a moderate LIHTC funded affordable housing presence, covering about 6.7% of the estimated housing inventory. The area saw significant affordable housing development in the early 2000s, with a mix of unit sizes to accommodate various household needs. While the population has slightly declined over the past decade, median income has increased, and racial demographics have become more diverse. These factors collectively shape the affordable housing landscape in this zip code, though it is important to note that LIHTC is just one component of the overall affordable housing picture in the area.