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O'Fallon, Missouri: LIHTC's Role in Affordable Housing Amidst Population Growth
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
O'Fallon, Missouri, has a diverse Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city's LIHTC program has contributed 331 total units, with 310 designated as low-income units. Based on the 2022 population of 93,648 and an estimated 35,880 housing units, LIHTC-funded affordable housing covers approximately 0.92% of the city's estimated housing inventory.
O'Fallon has received $5,289,557 in project tax credits through the LIHTC program. With approximately 16 projects, this translates to an average of about $330,597 in federal funding per project. The average federal funding per unit is approximately $15,981. O'Fallon holds 1.51% of Missouri's total LIHTC funding, indicating a significant contribution to the state's affordable housing efforts.
The city's LIHTC-funded housing spans several decades, with the earliest projects, Carriage Hills: Lot 146 and Carriage Hills: Lot 176, completed in 1991. The most recent completed project, Hillmann Place II, was finished in 2017. This 26-year span demonstrates a sustained commitment to affordable housing development in O'Fallon.
The 2010s saw the most affordable housing activity, with notable projects including Homefield Villas, Townhomes At Homefield, and Woodbury Place Phase I, all completed in 2011.
O'Fallon's LIHTC-funded housing inventory includes a variety of unit types. The breakdown shows 8 efficiencies, 30 one-bedroom units, 208 two-bedroom units, and 43 three-bedroom units, catering to diverse household sizes and needs.
Two projects stand out for their targeted populations: Woodbury Place II and Hillmann Place II, both designed for individuals with disabilities. These projects likely incorporate specific design features and services to meet the unique needs of this population.
Over the past decade, O'Fallon has experienced steady population growth, increasing from 79,565 in 2010 to 93,648 in 2022. This growth trend aligns with the development of new LIHTC projects during this period. The city's median income has also risen significantly, from $77,352 in 2013 to $105,240 in 2022, which may influence the ongoing need for affordable housing options.
The 2022 figures show a predominantly white population (80%), with smaller percentages of Asian (4%), Black (5%), and Hispanic (3%) residents. The presence of LIHTC projects may contribute to maintaining diversity within the community.
O'Fallon's LIHTC-funded affordable housing inventory, while modest in comparison to the overall housing stock, represents a consistent effort to provide affordable options in a growing city. The variety of unit types and the inclusion of projects for specific populations demonstrate an attempt to meet diverse housing needs. As the city continues to grow and evolve demographically, ongoing assessment of affordable housing needs will be crucial to ensure a balanced housing market for all residents.
