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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Tower Grove East, a neighborhood in St. Louis, Missouri, contains Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory comprises 55 total affordable units, all designated as low-income units. Based on the 2022 population of 6,413 and an estimated 2,457 housing units, LIHTC-funded affordable housing represents approximately 2.24% of the neighborhood's estimated housing inventory.
The LIHTC projects in Tower Grove East have received $320,959 in project tax credits, averaging approximately $5,836 per unit. The neighborhood experienced LIHTC-funded affordable housing development from 2002 to 2006, indicating a four-year period of affordable housing growth.
The first LIHTC project built in the neighborhood was De Sales Mha 2001, completed in 2002, while the most recent project was Grant School Apts, finished in 2006. The mid-2000s saw the most affordable housing development activity in Tower Grove East, with three projects completed during this period.
The LIHTC-funded housing stock in Tower Grove East consists primarily of two-bedroom units (39), complemented by three one-bedroom units and three three-bedroom units. This distribution suggests a focus on accommodating small families or individuals in the neighborhood's affordable housing options.
Over the past decade, Tower Grove East has experienced demographic shifts. The population has fluctuated, with a general declining trend from 6,711 in 2012 to 6,413 in 2022. The median income has shown a significant increase, rising from $42,105 in 2013 to $60,968 in 2022, indicating overall economic improvement in the neighborhood.
Racial demographics have also evolved. The white population percentage increased from 46% in 2013 to 55% in 2022, while the black population decreased from 36% to 31% during the same period. The Asian population has remained relatively stable, fluctuating between 3% and 10% over the years.
Despite the absence of new LIHTC projects in the last decade, the existing affordable housing continues to play a role in the neighborhood's housing landscape. The rising median income might suggest a reduced need for additional affordable housing units, although other affordable housing programs not captured in this data may also be contributing to meeting the community's needs.
Tower Grove East's LIHTC-funded affordable housing inventory provides 55 low-income units to the community. The neighborhood experienced a concentrated period of affordable housing development in the mid-2000s, with projects providing a mix of unit sizes, predominantly two-bedroom apartments. Over the past decade, the neighborhood has undergone population fluctuations, significant median income growth, and shifts in racial demographics. While no new LIHTC projects have been developed recently, the existing affordable housing continues to contribute to the neighborhood's housing diversity amidst changing socioeconomic conditions.