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Ozark's LIHTC-Funded Affordable Housing: A Quarter-Century Evolution
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Ozark, Missouri, a city with a population of 30,084 as of 2022, has 182 units in Low-Income Housing Tax Credit (LIHTC) funded projects. Of these, 119 are designated as low-income units. The estimated housing inventory of 11,526 units indicates that LIHTC-funded affordable housing comprises approximately 1.58% of the city's housing stock.
Ozark has received $536,000 in project tax credits through the LIHTC program. With approximately 7 projects, this averages $76,571 in federal funding per project. The funding equates to about $2,945 per unit when considering all 182 units in LIHTC-funded projects. Ozark's share of Missouri's total LIHTC funding is 0.15%, indicating a relatively small portion of the state's affordable housing resources.
The city's LIHTC-funded housing inventory spans from 1992 to 2017, demonstrating a 25-year history of affordable housing development. Notable projects include Ozark Senior Apartments (1992) and Mountain Boulevard Apartments Phase II (1996). The housing unit breakdown shows 112 two-bedroom units, 56 one-bedroom units, and 14 three-bedroom units, suggesting a focus on accommodating small families and individuals.
Finley Cottages, completed in 2017, targets individuals with disabilities, addressing the unique housing needs of a vulnerable population.
Ozark's population increased from 24,213 in 2010 to 30,084 in 2022, a 24% growth suggesting increased housing demand. Median income rose from $57,891 in 2013 to $63,043 in 2022, indicating a continued need for affordable housing options. The racial composition remained relatively stable, with a slight decrease in the white population from 93% in 2013 to 92% in 2022, and small increases in Hispanic and multiracial populations.
Ozark's LIHTC-funded affordable housing inventory, developed over 25 years, provides 182 units, with 119 for low-income residents. Despite a small share of state LIHTC funding, the city has created diverse housing options, including projects for seniors and individuals with disabilities. As Ozark grows in population and median income, maintaining and potentially expanding its affordable housing stock may be crucial for ensuring housing accessibility for all residents.
