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Affordable Housing in Carrollton, Illinois: A LIHTC-Funded Inventory Analysis
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Carrollton, Illinois, has a total of 32 affordable housing units funded by the Low-Income Housing Tax Credit (LIHTC) program, with 14 designated as low-income units. These units represent approximately 2.5% of the city's estimated 1,297 housing units. The city has received $291,013 in project tax credits from the LIHTC program, averaging $145,506 per project and $9,094 per unit in federal funding. Carrollton's share of Illinois' total LIHTC funding is 0.04%.
The city's involvement with LIHTC-funded affordable housing began in 1988 with the Carrollton Apts II project and continued until 2008 with the Hawkland Estates project. This 20-year span indicates a sustained commitment to affordable housing in the community. The 1980s and 2000s each saw one affordable housing project completed, suggesting a steady, albeit infrequent, development of such housing over the decades.
Carrollton's affordable housing inventory includes a variety of unit types. Of the 32 total units, there is 1 one-bedroom unit, 14 two-bedroom units, and 8 three-bedroom units. This distribution indicates a focus on accommodating small to medium-sized families.
Carrollton's population has decreased slightly over the past decade, from 3,566 in 2013 to 3,386 in 2022. However, the median income has increased from $47,766 in 2013 to $57,070 in 2022, suggesting an overall improvement in economic conditions. The racial demographics of Carrollton have remained relatively stable, with the white population consistently comprising over 95% of the total. There has been a small increase in diversity, with the Hispanic population growing to 2% and those identifying as two or more races reaching 1% by 2022.
The absence of new LIHTC projects in the last decade may be attributed to the rising median income and stable population, potentially reducing the perceived need for additional low-income housing. Carrollton's LIHTC-funded affordable housing inventory, while modest, represents a long-term commitment to providing affordable options for its residents. The city's two projects, spread over two decades, have contributed to a diverse mix of unit types.
Despite a slight population decline, rising median incomes suggest evolving economic conditions that may influence future affordable housing needs. The city's racial composition has remained largely stable, with small increases in diversity. As Carrollton continues to evolve, ongoing assessment of its affordable housing needs will be crucial to ensure it meets the changing demographics and economic conditions of its residents.
