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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 65401 in Rolla, Missouri, contains a notable Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. This area has 281 total affordable units, all of which are designated as low-income units. These units represent approximately 2.33% of the estimated 12,046 housing units in the zip code, indicating a commitment to providing housing options for lower-income residents.
The LIHTC program has invested $1,233,818 in tax credits for affordable housing projects in zip code 65401. This equates to an average federal funding of $4,391 per unit. The zip code accounts for 0.35% of Missouri's total LIHTC funding, suggesting a moderate concentration of affordable housing investment in this area.
Affordable housing development in this community spans over three decades. The first LIHTC project, Lecoma Ridge Apts Phase II, was completed in 1991, while the most recent addition, Rolla Apartments, was finished in 2017. The 2010s were the most active period for affordable housing development, with three projects completed during this decade.
The LIHTC-funded housing in zip code 65401 provides a variety of unit types. There are 149 one-bedroom units, 126 two-bedroom units, and 6 three-bedroom units. This distribution indicates a focus on accommodating smaller households and families. Two projects, Country Hills and Rolla Apartments, both completed in the latter half of the 2010s, specifically target individuals with disabilities, addressing the unique housing needs of a vulnerable population within the community.
Zip code 65401 has experienced slight population fluctuations over the past decade, with a general upward trend from 31,316 in 2010 to 31,440 in 2022. The median income has shown moderate growth, increasing from $44,370 in 2013 to $47,500 in 2022, indicating a gradual improvement in economic conditions. Racial demographics have remained relatively stable, with a slight decrease in the white population from 88% in 2013 to 85% in 2022. Small increases in racial diversity have occurred, particularly in the Asian, Black, and Hispanic populations, as well as those identifying as two or more races.
The completion of two LIHTC projects targeting individuals with disabilities in 2016 and 2017 coincides with the period of population growth and increasing median income, potentially responding to an identified need for specialized affordable housing options in a growing community. Zip code 65401 has a modest but significant LIHTC-funded affordable housing presence, covering 2.33% of the estimated housing inventory. While these projects contribute to the affordable housing stock, there may be potential for additional affordable housing development to meet the needs of the community's low-income residents, considering the typical target of 15-20% affordable housing in a well-balanced area. The demographic trends suggest a slowly growing and diversifying population with moderate income growth, factors that may influence future affordable housing needs and development in this zip code.