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Affordable Housing in Clinton, Illinois: A Single LIHTC Project'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
Clinton, Illinois, a city with a population of 8,725 as of 2022, has one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project. This project provides 24 affordable units, all of which are designated as low-income units. The LIHTC-funded affordable housing represents approximately 0.72% of the city's estimated housing inventory of 3,343 units.
The LIHTC program has contributed $34,542 in tax credits to Clinton for affordable housing development. This amount equates to an average federal funding of $34,542 per project and $1,439.25 per unit. The city's sole LIHTC-funded project, Village Aptsof Clinton Ii, was completed in 1992, marking the inception of LIHTC-supported affordable housing in Clinton.
The project comprises 24 units, consisting of 16 one-bedroom and 8 two-bedroom apartments. This unit distribution indicates a focus on accommodating smaller households or individuals within the affordable housing inventory.
Clinton has experienced a slight population decline over the past decade, from 9,127 in 2013 to 8,725 in 2022. The median income has fluctuated, rising from $50,938 in 2013 to $56,265 in 2019, before decreasing to $51,905 in 2022. This trend may indicate changes in the city's economic landscape.
The racial composition of Clinton has remained relatively stable, with a predominantly white population (92% in 2022). There has been a small increase in Hispanic residents, from 3% in 2013 to 5% in 2022, suggesting a gradual diversification of the community.
The absence of new LIHTC projects in the last decade could be attributed to various factors, including the relatively stable population and income levels. However, the recent decline in median income might indicate a potential need for additional affordable housing options in the future.
Clinton's LIHTC-funded affordable housing inventory consists of a single project with 24 units, completed in 1992. While this represents a small portion of the city's estimated housing stock, it has provided consistent affordable housing options for nearly three decades. The demographic trends show a slightly declining population with fluctuating median income levels, which may influence future affordable housing needs. Ongoing assessment of affordable housing requirements will be crucial to ensure adequate support for low-income residents as the city continues to evolve.
