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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Rolla, Missouri, a city known for hosting the Missouri University of Science and Technology, maintains a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 277 units. All of these units are designated as low-income. Based on an estimated housing inventory of 11,359 units, LIHTC funded affordable housing comprises approximately 2.44% of the city's housing stock.
The city has received $773,818 in project tax credits from the LIHTC program. With five approximate projects, this equates to an average federal funding of $154,764 per project and $2,794 per unit. Rolla holds 0.22% of the total state LIHTC funding.
Rolla's affordable housing development spans from 1991 to 2017, with Lecoma Ridge Apts Phase II being the first project and Rolla Apartments being the most recent. This 26-year period indicates a sustained commitment to affordable housing in the city. The 1990s experienced the highest activity in affordable housing development, with two projects completed during that decade.
The LIHTC-funded housing inventory in Rolla primarily consists of one-bedroom (149 units) and two-bedroom (124 units) apartments, with a small number of three-bedroom units (4). This distribution indicates a focus on accommodating smaller households and families.
The Rolla Apartments, completed in 2017, is a notable project targeting the handicapped population. This development likely incorporates specific design features and services to meet the needs of residents with disabilities, such as accessible units, supportive services, and potentially on-site healthcare amenities.
Rolla's population has shown modest growth over the past decade, increasing from 28,381 in 2013 to 29,648 in 2022. The median income has also risen, from $43,605 in 2013 to $47,159 in 2022, indicating a general improvement in economic conditions. Despite this growth, the most recent LIHTC project was completed in 2017, suggesting that the city may have met its immediate affordable housing needs at that time.
Racial demographics have remained relatively stable, with a slight decrease in the white population from 86% in 2013 to 84% in 2022, and small increases in Asian, Black, and Hispanic populations. This gradual diversification may influence future affordable housing needs and planning.
Rolla's LIHTC-funded affordable housing inventory, while modest in size, represents a consistent effort to provide low-income housing options over nearly three decades. The focus on one and two-bedroom units aligns with the needs of smaller households, while specialized projects like the Rolla Apartments address specific population needs. Despite recent population growth and income increases, the city's affordable housing stock remains an important component of its overall housing landscape. As Rolla continues to evolve demographically and economically, ongoing assessment of affordable housing needs will be crucial to maintain a balanced and inclusive community.