Loading Content...
Affordable Housing in Brighton, Illinois: LIHTC Program's Long-term Impact
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Brighton, Illinois, is a small community with a population of 7,032 as of 2022. The Low-Income Housing Tax Credit (LIHTC) program has contributed to the affordable housing inventory in this village, with a total of 19 affordable units, all of which are designated as low-income units. Based on the estimated housing inventory of approximately 2,694 units, the LIHTC-funded affordable housing covers about 0.71% of the village's housing stock.
Brighton has received $26,183 in project tax credits through the LIHTC program. With one approximate project, this translates to an average federal funding of $26,183 per project. The average federal funding per unit is approximately $1,378, given the total of 19 units in LIHTC-funded projects.
The LIHTC-funded affordable housing in Brighton consists of 15 efficiencies and 4 one-bedroom units, providing a mix of housing options for low-income residents. The sole LIHTC project in Brighton, Miller Brighton Apts, was completed in 1989, indicating that affordable housing has been present in the community for over three decades.
Over the past decade, Brighton has experienced slight fluctuations in its population, with a general trend of modest growth. The population increased from 6,992 in 2010 to 7,032 in 2022. The median income has shown an upward trend, rising from $68,520 in 2013 to $74,935 in 2022, indicating an improving economic situation for residents.
Regarding racial distribution, Brighton has remained predominantly white throughout the past decade, with the white population consistently representing over 95% of the total. There has been a slight increase in diversity, with small increases in the Hispanic population and those identifying as two or more races.
Brighton's LIHTC-funded affordable housing inventory, while modest in size, has been a long-standing component of the community since 1989. The 19 low-income units, primarily consisting of efficiencies, contribute to addressing affordable housing needs in the village. Despite the relatively small percentage of LIHTC-funded units compared to the estimated housing stock, it is important to note that other affordable housing programs may also be contributing to meeting the community's needs. The village has experienced stable population growth and increasing median incomes over the past decade, which may influence the demand for affordable housing in the future.
