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Grandview, Missouri: LIHTC Affordable Housing and Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Grandview, Missouri, a city with 25,921 residents as of 2022, has a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The inventory comprises 513 total units, all designated as low-income units. This represents approximately 5.2% of the city's estimated housing stock of 9,931 units.
Grandview has received $1,194,036 in project tax credits for affordable housing through the LIHTC program. With approximately 5 projects, this translates to an average federal funding of $238,807 per project and $2,328 per unit. Grandview holds 0.34% of the total state LIHTC funding.
The city's affordable housing development spans over a decade, with the first recorded LIHTC project, Truman Farm Villas Apartments, completed in 1998. The most recent project with a known completion date is Trinity Village, finished in 2009. This indicates at least 11 years of affordable housing development in Grandview.
The 2000s saw the most affordable housing activity, with projects like Kansas City Accessible Housing II (2000), Briarwood Gardens (2007), and Trinity Village (2009) being completed. The LIHTC funded inventory in Grandview includes a mix of unit sizes, with 122 one-bedroom, 306 two-bedroom, 33 three-bedroom, and 6 four-bedroom units.
Over the past decade, Grandview's population has increased from 24,991 in 2015 to 25,921 in 2022. The median income has risen from $44,919 in 2015 to $49,779 in 2022, indicating a gradual improvement in economic conditions.
Racial demographics have shifted slightly. The white population decreased from 45% in 2015 to 43% in 2022, while the Hispanic population increased from 10% to 15% during the same period. The Black population decreased from 39% to 33%. These changes suggest a growing diversity in the city's population.
Grandview's LIHTC funded affordable housing inventory plays a significant role in providing housing options for low-income residents, covering 5.2% of the estimated housing stock. The city has leveraged federal funding effectively, with an average of $238,807 per project. The development of affordable housing has been consistent over the years, with the most activity occurring in the 2000s. As the city continues to grow and diversify, ongoing attention to affordable housing needs will be crucial to maintain a balanced community.
