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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Northeast Aurora, a neighborhood in Aurora, Illinois, contains 260 affordable housing units funded by the Low-Income Housing Tax Credit (LIHTC) program, with 26 units specifically designated as low-income. Based on the 2022 population of 12,479 and using the national average household size, the estimated housing inventory in the neighborhood is approximately 4,781 units. The LIHTC-funded affordable housing comprises about 5.4% of the estimated housing stock in Northeast Aurora.
The LIHTC program has made a substantial investment in Northeast Aurora, with project tax credits totaling $578,359. This equates to an average federal funding of approximately $2,224 per unit in LIHTC-funded projects. The affordable housing inventory in the neighborhood consists of 6 efficiencies, 142 one-bedroom units, 104 two-bedroom units, and 8 three-bedroom units.
Marywood Apt Homes, completed in 2004, is a significant LIHTC project in the area. This development represents nearly two decades of affordable housing presence in Northeast Aurora. The 2000s were a particularly important period for affordable housing development in this neighborhood.
Northeast Aurora has experienced demographic changes over the past decade. The population has remained relatively stable, with a slight decrease from 12,638 in 2013 to 12,479 in 2022. Median income has increased from $103,948 in 2013 to $118,070 in 2022, indicating improved economic conditions for residents.
The racial demographics of the neighborhood have shifted. The Hispanic population has grown from 26% in 2013 to 30% in 2022, while the White population has decreased from 53% to 47% during the same period. The Asian population has increased from 9% to 15%, and the Black population has remained relatively stable at 8-9%.
Despite these demographic changes, no new LIHTC projects have been developed in the last decade. This may be attributed to the relatively high median income in the area, which could have reduced the perceived need for additional low-income housing.
Northeast Aurora's LIHTC-funded affordable housing inventory represents a small portion of the estimated housing stock. The neighborhood has experienced demographic shifts over the past decade, including increases in median income and changes in racial composition. While no new LIHTC projects have been developed recently, the existing affordable housing continues to play a role in the community's housing landscape. The analysis indicates a complex relationship between housing needs, demographic changes, and economic factors in Northeast Aurora.