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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Darien, Illinois, has a singular Low-Income Housing Tax Credit (LIHTC) funded affordable housing project. The city contains 82 total units in LIHTC-funded projects, with 72 designated as low-income units. Based on the 2022 population of 27,490 and an estimated housing inventory of 10,533 units, the LIHTC-funded affordable housing comprises approximately 0.78% of the city's estimated housing stock.
Darien has received $781,380 in project tax credits through the LIHTC program. This translates to an average federal funding of $781,380 per project and $9,529 per unit. The city holds 0.1% of the total state LIHTC funding, indicating a small share of Illinois' affordable housing initiatives.
The sole LIHTC project in Darien, Myers Commons Senior Housing, was completed in 2006. This project has been providing affordable housing options in the city for over 15 years. The housing inventory comprises 81 one-bedroom units and 1 two-bedroom unit, suggesting a focus on accommodating smaller households or individuals.
Over the past decade, Darien's population has remained relatively stable, with a slight decrease from 28,706 in 2014 to 27,490 in 2022. During this period, the median income has increased from $86,540 in 2014 to $102,577 in 2022, suggesting an improvement in the economic status of residents.
The racial composition of Darien has remained fairly consistent, with a slight decrease in the white population from 80% in 2014 to 76% in 2022. There has been a small increase in the Hispanic population from 4% to 8% during this period. The Asian population has remained stable at around 9-10%, while the Black population has stayed at approximately 2-3%.
The absence of new LIHTC projects in the last decade could be attributed to the rising median income and the relatively stable population, potentially indicating a reduced need for additional low-income housing units.
Darien's LIHTC-funded affordable housing inventory provides a resource for low-income residents. Myers Commons Senior Housing has been serving the community since 2006, primarily offering one-bedroom units. Despite the city's increasing median income and stable population, the existing LIHTC project continues to play a role in maintaining housing diversity in Darien. The demographic trends suggest a gradual shift in the city's racial composition, which may influence future affordable housing needs and initiatives.