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Affordable Housing in Casey, Illinois: Examining LIHTC's Impact
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Casey, an Illinois city with a population of 4,103 as of 2022, has one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project. This project provides 8 low-income units, representing approximately 0.51% of the city's estimated housing inventory of 1,572 units.
The LIHTC program has allocated $13,484 in tax credits for affordable housing in Casey. This single project receives an average federal funding of $13,484, which equates to $1,685.50 per unit. The project, known as Churchill Apartments, was completed in 1989 and has been offering affordable housing for over three decades. All 8 units in the project are one-bedroom apartments, designed to accommodate individuals or small households.
Casey's population has experienced a slight decline over the past decade, decreasing from 4,601 in 2019 to 4,103 in 2022. Despite this population decrease, the median income has shown a modest increase, rising from $52,432 in 2019 to $50,870 in 2022.
The racial composition of Casey has remained relatively stable, with a predominantly white population. However, there has been a slight increase in diversity. The percentage of white residents decreased from 96% in 2019 to 95% in 2022, while the Hispanic population grew from 1% to 3% during the same period.
Casey's LIHTC-funded affordable housing inventory consists of a single project with 8 one-bedroom units, completed in 1989. This project provides essential affordable housing options but represents a small fraction of the city's estimated housing stock. The demographic trends over the past decade show a slight population decline and a modest increase in median income, along with a small increase in racial diversity. These factors may influence the need for additional affordable housing in the future.
