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Affordable Housing in Chicago Heights: Three Decades of LIHTC Development
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Chicago Heights, Illinois, has a history of affordable housing development through the Low-Income Housing Tax Credit (LIHTC) program. The city's LIHTC-funded affordable housing inventory comprises 693 total units, with 469 designated as low-income units. This represents approximately 6.3% of the city's estimated housing stock of 11,067 units.
Chicago Heights has received $1,964,299 in project tax credits for affordable housing through the LIHTC program. With six projects, this equates to an average federal funding of $327,383 per project and $2,834 per unit. The city holds 0.24% of the total state LIHTC funding, indicating its contribution to Illinois' affordable housing efforts.
The first LIHTC project in Chicago Heights, "One Magnificent Hickory," was completed in 1988, while the most recent project, "Golden Towers I & II and Juniper Tower," was finished in 2019. This 31-year span demonstrates a long-term commitment to affordable housing in the city. The 1980s saw the highest number of affordable housing projects completed, with three projects built during that decade.
The LIHTC-funded housing inventory in Chicago Heights includes various unit types. Out of the 693 total units, there are 128 efficiencies, 384 one-bedroom units, 130 two-bedroom units, 50 three-bedroom units, and 1 four-bedroom unit. This distribution suggests a focus on smaller households and individuals.
Over the past decade, Chicago Heights has experienced a population decline, from 31,474 in 2010 to 28,886 in 2022. Despite this decrease, the median income has shown an overall upward trend, rising from $47,221 in 2013 to $52,429 in 2022. This increase in median income may indicate a changing economic landscape in the city.
The racial composition of Chicago Heights has evolved. The Black population has slightly decreased from 41% in 2013 to 39% in 2022, while the Hispanic population has increased from 33% to 36% during the same period. The White population has remained relatively stable, decreasing slightly from 23% to 21%. These demographic shifts may influence the need for diverse affordable housing options to serve various communities.
Chicago Heights demonstrates a consistent commitment to affordable housing through its LIHTC-funded projects. The city's affordable housing stock provides a foundation for low-income residents. The diverse unit types cater to various household sizes, and the long-term investment in LIHTC projects spanning over three decades shows ongoing efforts to address housing affordability. As the city's demographics continue to evolve, maintaining and potentially expanding affordable housing options may remain a crucial consideration for Chicago Heights' urban development strategy.
