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Affordable Housing in Brighton Park: LIHTC Impact and Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Brighton Park, a neighborhood in Chicago, Illinois, has a diverse affordable housing landscape supported by the Low-Income Housing Tax Credit (LIHTC) program. The neighborhood's LIHTC-funded inventory comprises 120 total units, with 11 designated as low-income units. Based on the estimated 17,340 housing units in Brighton Park, LIHTC-funded affordable housing represents approximately 0.69% of the neighborhood's housing inventory. This percentage indicates that LIHTC-funded projects contribute to the affordable housing stock, but likely represent only a portion of the overall affordable housing options in the area.
The LIHTC program has invested $1,500,000 in tax credits for affordable housing projects in Brighton Park. This investment equates to an average federal funding of $12,500 per unit when divided by the total number of units in LIHTC-funded projects. This investment demonstrates a commitment to creating affordable housing options in the neighborhood.
The neighborhood's LIHTC-funded housing stock includes a mix of unit types, with 2 one-bedroom units, 63 two-bedroom units, 48 three-bedroom units, and 7 four-bedroom units. This distribution indicates a focus on accommodating families of various sizes, with an emphasis on two- and three-bedroom units. A notable project in Brighton Park is Legends South A-2, completed in 2010, representing the LIHTC-funded affordable housing development in the neighborhood during the 2010s.
Demographic trends over the past decade reveal patterns in Brighton Park. The population has remained relatively stable, with minor fluctuations. In 2013, the population was 46,312, and by 2022 it had decreased slightly to 45,258.
Median income in the neighborhood has shown an upward trend, increasing from $38,279 in 2013 to $47,918 in 2022. This rise in median income could potentially impact the demand for affordable housing in the area.
The racial composition of Brighton Park has undergone changes over the past decade. The Hispanic population, while still the majority, has decreased from 81% in 2013 to 77% in 2022. The Asian population has increased from 6% to 10% during the same period. The Black and White populations have remained relatively stable at around 4% and 8% respectively.
Brighton Park's LIHTC-funded affordable housing inventory, while modest in relation to the estimated total housing units, contributes to addressing affordable housing needs in the neighborhood. The mix of unit types suggests an effort to accommodate diverse household sizes. The demographic trends, including a stable population and increasing median income, may influence future affordable housing needs and development in the area. The changing racial composition of the neighborhood highlights the importance of considering diverse community needs in future affordable housing initiatives.
