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Affordable Housing in Bloomingdale: LIHTC's Impact on a Stable Illinois Community
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Bloomingdale, located in Illinois, has a total of 176 units in Low-Income Housing Tax Credit (LIHTC) funded projects, with 85 of these designated as low-income units. Based on the estimated housing inventory of 10,377 units, the LIHTC funded affordable housing covers approximately 1.7% of the city's housing stock.
Bloomingdale has received $1,271,413 in project tax credits through the LIHTC program. With approximately 2 projects, this averages to $635,707 per project. When divided by the total number of units, it equates to $7,224 in federal funding per unit. The city holds 0.16% of the total state LIHTC funding.
The first LIHTC project in Bloomingdale was completed in 2007, and the most recent in 2010, indicating a relatively short period of LIHTC-funded affordable housing development in the city. The 2000s saw the most affordable housing project completions.
The LIHTC-funded housing inventory in Bloomingdale consists of 24 efficiencies, 89 one-bedroom units, and 9 two-bedroom units. This distribution suggests a focus on smaller households and possibly senior housing.
Over the last decade, Bloomingdale's population has remained relatively stable, with a slight increase from 26,669 in 2010 to 27,083 in 2022. The median income has seen significant growth, rising from $79,598 in 2013 to $90,326 in 2022. This increase in median income might partially explain the lack of new LIHTC projects in recent years.
Racial demographics have shown some shifts, with the white population decreasing from 73% in 2013 to 67% in 2022. The Asian and Hispanic populations have seen slight increases, while other racial groups have remained relatively stable.
Bloomingdale's LIHTC-funded affordable housing inventory, while modest in size, provides important housing options for low-income residents. The city's two LIHTC projects, completed in the late 2000s, have contributed to diversifying the housing stock. Despite the lack of recent LIHTC developments, the existing units continue to play a role in the city's housing landscape. The rising median income and stable population suggest that the city's affordable housing needs may have evolved since the last LIHTC project was completed in 2010.
