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Affordable Housing in Zip Code 63937: Analysis of LIHTC Project in Ellsinore, 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 63937 in Ellsinore, Missouri, contains one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project. This project comprises 24 total units, all of which are designated as low-income units. The zip code covers an area of 105.66 square miles and had a population of 1,209 in 2022. Based on the national average household size of 2.61, the estimated housing inventory for this zip code is approximately 463 units. The LIHTC funded affordable housing represents about 5.18% of the estimated housing units in the zip code.
The LIHTC program has provided $169,000 in tax credits for affordable housing projects in this zip code. This amounts to an average of $7,042 in federal funding per unit. The zip code's LIHTC funding represents 0.05% of Missouri's total state funding for affordable housing.
The single LIHTC project in this zip code, Ellsinore Senior Housing, was completed in 2007. This project has been providing affordable housing in the area for over 15 years. The project consists of 24 units, including 2 one-bedroom units and 4 two-bedroom units. This distribution suggests a focus on smaller household sizes, which aligns with the project's name indicating a target towards senior residents.
Zip code 63937 has experienced demographic shifts over the past decade. The population decreased from 1,565 in 2014 to 1,209 in 2022, a decline of about 22.7%. Despite this population decrease, the median income increased significantly, rising from $28,557 in 2014 to $62,005 in 2022, more than doubling over this period.
Racial demographics have also changed slightly. The white population percentage decreased from 93% in 2014 to 87% in 2022. The Hispanic population increased from 3% in 2014 to 8% in 2022. The black population also saw a small increase from 1% to 3% during this period.
These demographic changes, particularly the rising median income and declining population, may explain why no new LIHTC projects have been developed in the past decade. The increasing income levels might suggest a reduced need for additional affordable housing units in recent years.
The zip code 63937 in Ellsinore, Missouri, has a single LIHTC funded affordable housing project providing 24 low-income units, which covers about 5.18% of the estimated housing inventory. This project, completed in 2007, appears to focus on senior housing needs. While the population has decreased over the past decade, median income has significantly increased, potentially reducing the demand for additional affordable housing. The racial composition has seen slight changes, with a decrease in the white population and increases in Hispanic and black populations. These demographic shifts provide context for understanding the affordable housing landscape in this zip code.
