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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 65785, located in Stockton, Missouri, has a presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area has 64 affordable units, all designated as low-income units. Based on the estimated housing inventory of 2,216 units for the zip code's 2022 population, the LIHTC funded affordable housing covers 2.89% of the total housing stock.
The LIHTC projects in this zip code have received $214,648 in tax credits, averaging $3,354 per unit. This funding represents 0.06% of Missouri's total LIHTC allocation. The zip code has seen LIHTC-funded affordable housing development from 1993 to 2006, with the first project, Stockton Estates LP, completed in 1993, and the most recent, Stockton Heights, in 2006.
The 2000s saw the most significant affordable housing development, with two projects completed during this decade: Cedar Ridge Apartments Stockton in 2000 and Stockton Heights in 2006. These projects increased the affordable housing inventory in the area.
The LIHTC-funded housing in this zip code offers various unit types. Of the 64 total units, there are 4 one-bedroom units, 30 two-bedroom units, and 12 three-bedroom units. This distribution suggests a focus on accommodating various household sizes, with an emphasis on families needing two-bedroom apartments.
Over the past decade, the zip code has experienced population fluctuations, with a recent upward trend. The population increased from 5,169 in 2019 to 5,783 in 2022. Concurrently, the median income has shown overall growth, rising from $39,899 in 2019 to $42,599 in 2022, indicating a gradual improvement in economic conditions.
The racial composition of the zip code has remained relatively stable, with a slight decrease in the white population from 96% in 2019 to 92% in 2022. There has been a small increase in diversity, with the Hispanic population growing from 2% to 4% and those identifying as two or more races increasing from 1% to 3% during the same period.
No new LIHTC projects have been developed in the last decade. The demographic trends suggest a potential need for additional affordable housing. The growing population and modest income increases might indicate an emerging demand for more affordable housing options in the future.
Zip code 65785 has a small but significant LIHTC-funded affordable housing presence, covering nearly 3% of its estimated housing stock. The area has benefited from three LIHTC projects completed between 1993 and 2006, providing 64 low-income units. The housing mix caters to various household sizes, with a focus on two-bedroom units. Recent demographic trends, including population growth and modest income increases, suggest there may be a future need for additional affordable housing options in this zip code.