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Joplin's LIHTC-Funded Affordable Housing: A Three-Decade Journey Post-Tornado
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Joplin, Missouri, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The city's LIHTC inventory comprises 1,165 total units, with 1,005 designated as low-income units. Based on the estimated 24,143 housing units in Joplin, the LIHTC-funded affordable housing covers approximately 4.8% of the city's housing inventory.
Joplin has received $7,299,888 in project tax credits for affordable housing through the LIHTC program. With approximately 24 projects, this translates to an average of $304,162 in federal funding per project. When considering the total units, the average federal funding amounts to $6,266 per unit.
Joplin accounts for 2.08% of Missouri's total LIHTC funding, indicating a significant contribution to the state's affordable housing efforts. The city's affordable housing journey spans over three decades, with the earliest LIHTC project, Ridgway Apts, completed in 1987, and the most recent projects, Hampshire Landing II and Memorial Hills, finished in 2019.
The 2010s saw the most affordable housing activity, with multiple projects completed during this decade. Notable projects from this period include Ford Lofts of Joplin (2011), Oak Meadows (2012), and Eagle Ridge (2013).
The LIHTC-funded housing in Joplin offers a diverse range of unit types. Out of the 1,165 total units, there are 48 efficiencies, 282 one-bedroom units, 491 two-bedroom units, 215 three-bedroom units, and 16 four-bedroom units. This distribution caters to various household sizes and needs.
Several projects in Joplin target specific populations. For instance, Katherine Estates, L.P., Hampshire Landing II, and Memorial Hills are designed to accommodate individuals with disabilities, addressing the unique housing needs of this community.
Over the past decade, Joplin's population has shown a slight upward trend, growing from 61,539 in 2010 to 63,014 in 2022. The median income has also increased, rising from $44,499 in 2013 to $52,315 in 2022. This economic growth may have influenced the need for affordable housing options.
Regarding racial demographics, while Joplin remains predominantly white, there has been a gradual increase in diversity. The Hispanic population, for example, has grown from 3% in 2013 to 6% in 2022. This demographic shift may have implications for future affordable housing needs and designs.
Joplin's LIHTC-funded affordable housing inventory represents a significant effort to address low-income housing needs. With 1,165 units across approximately 24 projects, the city has maintained a consistent commitment to affordable housing over three decades. The diverse range of unit types and targeted projects for individuals with disabilities demonstrate an attempt to meet varied housing needs. As Joplin continues to grow and diversify, ongoing analysis of demographic trends will be crucial in shaping future affordable housing initiatives.
