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Hollister, Missouri: Three Decades of LIHTC-Funded Affordable Housing
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Hollister, Missouri, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory that addresses the housing needs of its low-income residents. The city has 74 total units in LIHTC funded projects, with 52 designated as low-income units. Based on the estimated housing inventory of 4,066 units for the city's 2022 population, LIHTC funded affordable housing comprises approximately 1.82% of the city's housing stock.
Hollister has received $56,819 in project tax credits from the LIHTC program. With approximately 3 projects, this equates to an average of $18,940 in federal funding per project. When divided by the total units, it amounts to about $768 per unit in federal funding. The city holds 0.02% of the total state funding for LIHTC projects.
The data indicates that two of the LIHTC projects in Hollister were completed in 1993: Silver Nugget Housing Apartments and White River Mountain Apartments. This suggests that affordable housing has been present in the city for at least 30 years. The 1990s appear to be the decade with the most affordable housing projects completed in Hollister.
Regarding unit types, the data shows 24 one-bedroom units and 24 two-bedroom units in the LIHTC funded projects. This indicates a focus on smaller household sizes in the affordable housing inventory.
Over the last decade, Hollister's population has shown some fluctuation but overall growth, increasing from 10,184 in 2013 to 10,612 in 2022. The median income has also seen an upward trend, rising from $42,970 in 2013 to $53,294 in 2022. This increase in median income may indicate a changing economic landscape in the city.
In terms of racial demographics, Hollister has remained predominantly white, with the percentage of white residents slightly decreasing from 89% in 2013 to 88% in 2022. There has been a small increase in diversity, with the Hispanic population growing from 7% to 6% and the percentage of residents identifying as two or more races increasing from 1% to 4% during this period.
Hollister's LIHTC funded affordable housing inventory, while modest in size, has been a consistent part of the city's housing landscape for three decades. The projects focus on smaller units, potentially catering to single individuals or small families. While the city has experienced population growth and rising median incomes over the past decade, the racial composition has remained relatively stable with a slight increase in diversity. These demographic trends may influence future affordable housing needs and development in Hollister.
