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Aurora, Missouri's Affordable Housing: LIHTC Funding Impacts Small City Growth
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Aurora, Missouri, a city with a population of 9,659 as of 2022, has a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The LIHTC program has funded 136 affordable housing units in Aurora, all of which are designated as low-income units. These units represent approximately 3.67% of the city's estimated housing stock of 3,701 units.
Aurora has received $11,985,500 in project tax credits through the LIHTC program. With approximately 4 projects funded, this translates to an average of $2,996,375 in federal funding per project, or about $88,129 in federal funding per unit. The city holds 3.42% of Missouri's total LIHTC funding, a significant portion for a smaller city.
The LIHTC-funded affordable housing in Aurora spans nearly three decades. The first project, Lincoln Estates, was completed in 1993, and the most recent, Allgeier Manor Apts, was finished in 2014. The 2010s saw the most affordable housing development in Aurora, with two projects completed during this decade: Brookside Terrace Estates in 2013 and Allgeier Manor Apts in 2014.
The LIHTC-funded housing in Aurora consists of 76 one-bedroom units, 28 two-bedroom units, and 8 three-bedroom units, offering a range of options for different household sizes. None of the projects listed have a specific target population, suggesting they are open to various low-income residents.
Aurora's population has grown from 8,619 in 2010 to 9,659 in 2022, an increase of about 12%. The median income has fluctuated, rising from $35,670 in 2013 to a peak of $41,598 in 2019, before declining slightly to $39,909 in 2022. This trend suggests a potential ongoing need for affordable housing options.
The racial composition of Aurora has remained relatively stable, with the white population consistently accounting for around 88-90% of residents. The Hispanic population has shown a slight increase from 5% in 2014 to 7% in 2022, which could indicate a growing need for culturally diverse housing options.
Aurora's LIHTC-funded affordable housing inventory represents a small but significant portion of the city's housing stock. The program has provided substantial federal funding for affordable housing projects over nearly three decades. While the LIHTC-funded units cover only a fraction of the estimated housing needs, they offer a range of unit sizes to accommodate different household compositions. The city's demographic trends, including population growth and income fluctuations, suggest an ongoing need for affordable housing options in Aurora.
