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Ferguson's LIHTC Program: Affordable Housing in a Changing City
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Ferguson, Missouri, possesses a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 228 units, all designated as low-income. This represents approximately 2.9% of the city's estimated 7,869 housing units. The city has received $634,692 in project tax credits for affordable housing through the LIHTC program, distributed across approximately 9 projects. This equates to an average federal funding of $70,521 per project and $2,784 per unit. Ferguson's share of the total state LIHTC funding is 0.18%.
The initial LIHTC project in Ferguson was completed in 1988 at 6162-6192 Payne Drive, with the most recent known completion being Glen Owen Estates in 2007. This nineteen-year span indicates a sustained affordable housing effort in the city. The 1980s and early 1990s were the most active periods for affordable housing development. The housing unit distribution comprises 207 two-bedroom units and 20 three-bedroom units, suggesting a focus on accommodating small to medium-sized families.
Ferguson's population has decreased from 24,144 in 2015 to 20,538 in 2022. The median income in 2022 was $43,054. The city's racial composition has shifted, with the Black population increasing from 70% in 2015 to 74% in 2022, while the White population decreased from 26% to 21% during the same period.
The absence of new LIHTC projects in the past decade may be associated with the declining population, potentially reducing the perceived need for additional affordable housing units. However, the relatively stable median income suggests a potential ongoing demand for affordable housing options in the community.
Ferguson's LIHTC funded affordable housing inventory constitutes a small but significant portion of its housing stock. The city has utilized federal funding to create 228 low-income units across approximately 9 projects. While the majority of affordable housing development occurred in the late 1980s and early 1990s, the demographic changes and economic factors of the past decade may influence future affordable housing needs and strategies in Ferguson.
