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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The zip code 64080, encompassing Pleasant Hill, Missouri, features a diverse affordable housing inventory supported by the Low-Income Housing Tax Credit (LIHTC) program. This area contains 67 affordable units, all of which are classified as low-income units. Based on the 2022 population of 15,035 and an estimated 5,761 housing units, the LIHTC-funded affordable housing comprises approximately 1.16% of the zip code's estimated housing inventory.
The LIHTC program has invested $84,125 in tax credits for affordable housing projects in this zip code. With 67 total units funded, this equates to an average federal funding of about $1,255 per unit. This investment represents 2% of Missouri's total LIHTC funding allocation, indicating a substantial commitment to affordable housing in this area.
The initial LIHTC project in this zip code, Portales Estates, was completed in 1988, while the most recent, Apple Manor Apartments, was finished in 2007. This 19-year span demonstrates a sustained effort to provide affordable housing in the area. The 2000s witnessed the most activity, with two projects completed during this decade: Pleasant Hill Seniors in 2002 and Apple Manor Apartments in 2007.
The affordable housing inventory in this zip code consists primarily of one-bedroom units, with 43 such units available. There are also 2 two-bedroom units and 4 three-bedroom units, providing options for various household sizes. The absence of efficiency units and four-bedroom units suggests a focus on small to medium-sized households.
Over the past decade, the zip code has experienced steady population growth, increasing from 13,724 in 2015 to 15,035 in 2022. The median income has also risen significantly, from $70,316 in 2015 to $81,990 in 2022. This income growth may indicate a changing economic landscape in the area.
The racial composition of the zip code has remained relatively stable, with the white population consistently comprising the majority (around 90-92%) throughout the past decade. There has been a slight increase in diversity, with small increases in the Black, Hispanic, and multi-racial populations.
Despite the population growth and rising median income, no new LIHTC projects have been completed in the last decade. This could be due to the existing affordable housing stock meeting current needs or a shift in housing priorities given the improving economic conditions.
The 64080 zip code has a small but established affordable housing inventory supported by the LIHTC program. With 67 low-income units spread across three projects built between 1988 and 2007, the area has maintained a consistent affordable housing presence for over three decades. The housing stock primarily caters to smaller households, with a majority of one-bedroom units. While the area has seen population growth and increased median income over the past decade, there has not been recent LIHTC development activity. This analysis provides insights into the affordable housing landscape of the zip code, reflecting both historical investments and current demographic trends.