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Affordable Housing Scarcity in Kingsway East: A Three-Decade Gap in LIHTC Development
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Kingsway East, a neighborhood in St. Louis, Missouri, has a population of 3,392 as of 2022. The neighborhood's Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory is minimal, comprising only 2 units, both designated as low-income. This represents approximately 0.15% of the estimated 1,300 housing units in the neighborhood, falling significantly short of the 15-20% target for a well-balanced community.
The LIHTC program has funded three projects in Kingsway East since 1988. The initial project, "1927 Marcus Ave," was completed in 1988, while the most recent project, "Pt Apts," was finished in 1991. This indicates a three-decade gap in LIHTC development in the neighborhood. The 1980s and early 1990s saw the most LIHTC activity, with one project completed in each of the years 1988, 1990, and 1991.
The two units that constitute the affordable housing inventory consist of one three-bedroom unit and one four-bedroom unit, suggesting a focus on accommodating larger families. This limited inventory reflects the lack of recent LIHTC development in Kingsway East.
Over the past decade, Kingsway East has experienced demographic shifts. The population has remained relatively stable, with a slight increase from 3,188 in 2013 to 3,392 in 2022. However, the median income has seen a substantial increase, rising from $15,978 in 2013 to $45,299 in 2022. This significant growth in median income may explain the absence of new LIHTC projects in recent years, as the neighborhood's economic profile has changed.
Racially, Kingsway East has maintained a predominantly Black population, with percentages consistently above 95% throughout the past decade. There has been a minor increase in Hispanic representation, growing from 1% in 2013 to 4% in 2022.
Kingsway East's LIHTC funded affordable housing inventory is notably small, covering only a fraction of the estimated housing stock. The neighborhood's affordable housing developments were all completed between 1988 and 1991, with no new LIHTC projects in the past three decades. This limited inventory consists of two large units, potentially serving families in need of more space. The significant increase in median income over the past decade may have influenced the lack of recent LIHTC development. While the racial composition has remained predominantly Black, there has been a slight increase in Hispanic representation. These demographic shifts and the limited LIHTC activity suggest that the neighborhood's affordable housing needs and economic profile have evolved since the early 1990s.
