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Affordable Housing in Bourbonnais: A Decade of LIHTC Implementation
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Bourbonnais in Illinois possesses a unique Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The village contains 128 affordable units, all of which are classified as low-income units. This inventory is represented by a single LIHTC funded project. The estimated housing inventory of Bourbonnais is 9,152 units, with LIHTC funded affordable housing comprising approximately 1.4% of the village's housing stock.
The LIHTC program has allocated $363,440 in project tax credits for affordable housing in Bourbonnais. With one project funded, this equates to an average federal funding of $363,440 per project. When divided by the total number of units, it results in an average federal funding of $2,839 per unit. Bourbonnais accounts for 0.04% of the total state LIHTC funding, indicating a relatively small portion of Illinois' affordable housing resources.
The sole LIHTC funded project in Bourbonnais, Hidden Glen Apartments, was completed in 2007. This project has been providing affordable housing in the village for over 15 years. The Hidden Glen Apartments project consists of 128 units, including 8 one-bedroom units and 12 two-bedroom units. The configuration of the remaining 108 units is not specified in the available data.
Bourbonnais has experienced demographic changes over the past decade. The population increased from 23,774 in 2013 to 23,888 in 2022, demonstrating slight growth. The median income has increased significantly from $68,058 in 2013 to $77,916 in 2022, indicating an overall improvement in economic conditions.
The racial distribution in Bourbonnais has remained relatively stable. The white population decreased slightly from 79% in 2013 to 77% in 2022. The Black population decreased from 9% to 7%, while the Asian population increased from 2% to 3%. The Hispanic population remained constant at 7%.
Despite these demographic changes, no new LIHTC projects have been developed in the last decade. The stable population growth and increasing median income may suggest a reduced need for additional low-income housing during this period.
Bourbonnais's LIHTC funded affordable housing inventory consists of one project, Hidden Glen Apartments, providing 128 low-income units. This project, completed in 2007, represents 1.4% of the estimated housing stock. The village has experienced slight population growth and a significant median income increase over the past decade. The demographic trends, including a stable racial distribution and rising incomes, may have influenced the lack of new affordable housing development through the LIHTC program in recent years.
