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Affordable Housing in Chillicothe: Three Decades of LIHTC 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
Chillicothe, Illinois, has a limited Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city contains 36 affordable housing units, all designated as low-income units. These LIHTC-funded units represent approximately 1.5% of the city's estimated 2,381 housing units. The LIHTC program has provided $39,162 in project tax credits to Chillicothe, averaging $13,054 per project and $1,088 per unit. The affordable housing projects in Chillicothe were developed between 1991 and 1993, with Village Apts Of Chillicothe built in 1991 and Bayberry C Apts completed in 1993.
The LIHTC-funded units in Chillicothe consist of 24 one-bedroom units and 12 two-bedroom units, indicating a focus on smaller households or individuals. This composition suggests that the affordable housing inventory primarily caters to specific demographic groups within the city. The early 1990s marked the most significant period of affordable housing development in Chillicothe, with no new LIHTC projects reported in recent years.
Demographic trends in Chillicothe provide context for the current state of affordable housing. The city's population has experienced a slight decline, decreasing from 6,384 in 2013 to 6,214 in 2022. Concurrently, the median income has shown a modest increase from $57,406 in 2013 to $61,085 in 2022. These trends may partially explain the lack of new LIHTC projects in the past decade, as the relatively stable population and income levels may not have indicated a growing need for additional low-income housing.
Chillicothe's racial composition has remained predominantly white, although there has been a slight decrease in the white population from 94% in 2013 to 86% in 2022. A small increase in diversity is evident, with the percentage of residents identifying as two or more races rising from 0% in 2013 to 9% in 2022. This shift in racial demographics, while modest, may have implications for future affordable housing needs and planning in the city.
The LIHTC-funded affordable housing inventory in Chillicothe represents a small portion of the city's total housing stock. The existing projects, developed in the early 1990s, focus on one and two-bedroom units, potentially limiting options for larger families or households. The absence of recent LIHTC development activity may be attributed to the city's demographic trends, including slight population decline and modest income growth over the past decade.
In conclusion, Chillicothe's affordable housing landscape, as represented by LIHTC-funded units, reflects a specific period of development in the early 1990s. The limited inventory and lack of recent projects suggest that affordable housing initiatives may need reassessment in light of current demographic trends and potential future needs. The city's evolving racial composition, albeit gradual, may also factor into future affordable housing strategies and policies.
