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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Cicero, Illinois, a town with a population of 81,916 as of 2022, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory comprising 120 total units, of which 119 are designated as low-income units. This represents approximately 0.38% of the town's estimated housing inventory of 31,385 units. The LIHTC program has provided $997,008 in project tax credits to Cicero, averaging $332,336 per project across three approximate projects. The average federal funding per unit is $8,308, and Cicero holds 0.12% of the total state LIHTC funding.
The first LIHTC project in Cicero, "Courts of Cicero," was completed in 1992, while the most recent, "Drexel Horizon Senior Living Community," was finished in 1997. This indicates that affordable housing has been present in the city for at least 25 years, with the 1990s seeing the most affordable housing projects completed. The inventory primarily consists of one-bedroom units (116), with a small number of two-bedroom (3) and four-bedroom (1) units, suggesting a focus on accommodating smaller households or individuals.
Cicero's population has slightly declined from 84,107 in 2013 to 81,916 in 2022. However, the median income has increased significantly from $37,232 in 2013 to $67,111 in 2022, indicating improving economic conditions for residents. The racial composition of Cicero has remained relatively stable, with a predominantly Hispanic population (88% in 2022). The White population has slightly increased from 6% in 2019 to 8% in 2022, while the Black population has remained constant at 3%.
Despite the lack of new LIHTC projects in the last decade, the rising median income suggests that the need for affordable housing may have decreased. However, it is important to note that other factors and housing programs may also influence the affordable housing landscape in Cicero.
Cicero's LIHTC-funded affordable housing inventory, while modest in comparison to the total housing stock, has been a consistent presence since the early 1990s. The town has received nearly $1 million in tax credits, focusing primarily on one-bedroom units. While recent years have not seen new LIHTC projects, the town's increasing median income and stable racial composition suggest evolving housing needs. This analysis provides a snapshot of Cicero's LIHTC-funded affordable housing landscape, recognizing that it represents only one aspect of the town's overall affordable housing strategy.