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Affordable Housing in Douglas Park: LIHTC's Impact on a Changing Neighborhood
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Douglas Park, a neighborhood in Chicago, Illinois, contains Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The neighborhood's LIHTC inventory comprises 137 total units, with 109 designated as low-income units. Based on the 2022 population of 4,190 and the national average household size of 2.61, the estimated housing units in the neighborhood are approximately 1,605. LIHTC funded affordable housing accounts for about 8.5% of the estimated housing inventory, indicating a substantial contribution to the neighborhood's affordable housing stock.
The LIHTC program has invested in Douglas Park, with project tax credits totaling $2,743,365. This equates to an average federal funding of approximately $20,024 per unit in LIHTC funded projects. The neighborhood's affordable housing inventory through LIHTC includes 17 one-bedroom, 83 two-bedroom, 32 three-bedroom, and 5 four-bedroom units. This range of unit sizes suggests an effort to accommodate various household compositions within the affordable housing stock.
The single LIHTC project in Douglas Park, "Park Douglas/Ogden North," was completed in 2011. This project marks the introduction of LIHTC-funded affordable housing in the neighborhood, indicating a relatively recent implementation of this type of housing support.
Douglas Park has experienced demographic shifts over the past decade. The population has declined from 4,612 in 2010 to 4,190 in 2022. Median income has increased from $38,628 in 2013 to $53,269 in 2022. This upward trend in median income may suggest improving economic conditions for some residents, but it may also indicate a growing need for affordable housing options for those who have not benefited from this income growth.
Racial demographics have also changed over the past decade. The Black population has decreased from 60% in 2013 to 48% in 2022, while the Hispanic population has increased from 31% to 35%. The White population has grown from 6% to 13% during this period. These changes in racial composition may reflect broader neighborhood changes and could influence future affordable housing needs.
Douglas Park's LIHTC funded affordable housing, while covering a modest portion of the estimated housing inventory, represents a significant investment in the neighborhood's affordable housing stock. The single LIHTC project, completed in 2011, provides a range of unit sizes to accommodate different household needs. The neighborhood has experienced demographic changes over the past decade, including population fluctuations, rising median income, and shifts in racial composition. These trends, along with the existing LIHTC inventory, should be considered in future affordable housing planning to ensure that the neighborhood continues to meet the evolving needs of its residents.
