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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Downtown/Moline Center in Moline, Illinois, has a distinct Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The neighborhood contains 179 total units in LIHTC funded projects, with 16 designated as low-income units. Based on the 2022 population of 3,875 and utilizing the national average household size, the estimated housing units in the neighborhood are approximately 1,485. The LIHTC funded affordable housing comprises about 12.1% of the estimated housing inventory, approaching the target percentage for a well-balanced community.
The LIHTC program has invested $1,790,940 in tax credits for affordable housing projects in this neighborhood. This equates to an average federal funding of approximately $10,005 per unit. The neighborhood has benefited from LIHTC funded affordable housing for nearly two decades, with the first project, Le Clair Apts, completed in 1995, and the most recent, Moline Enterprise Live-Work Lofts, finished in 2012.
The most recent affordable housing development in the neighborhood occurred in the 2010s. The housing inventory includes a variety of unit types, consisting of 68 one-bedroom, 94 two-bedroom, and 17 three-bedroom units. This diverse range of unit sizes can accommodate various household compositions, from individuals to small families.
Over the past decade, the neighborhood's population has remained relatively stable, fluctuating between 3,300 and 3,900 residents. The median income has demonstrated an upward trend, increasing from $41,375 in 2013 to $49,458 in 2022. This rise in median income may suggest a decreasing need for additional affordable housing in recent years.
The racial composition of the neighborhood has evolved over the past decade. The white population has decreased from 64% in 2014 to 57% in 2022, while the Hispanic population has remained relatively stable, ranging from 20% to 26%. The Black population has experienced a slight decrease from 13% in 2020 to 8% in 2022. Notably, the percentage of residents identifying as two or more races has increased from 1% in 2018 to 9% in 2022, indicating growing diversity in the neighborhood.
Downtown/Moline Center's LIHTC funded affordable housing inventory covers a significant portion of the estimated housing stock, approaching the target for a well-balanced community. The neighborhood has benefited from LIHTC investments for nearly two decades, with projects providing a mix of unit sizes to accommodate diverse household needs. While no new LIHTC projects have been completed in the last decade, this may be partly due to the rising median income in the area. The neighborhood's changing demographics, particularly the increase in racial diversity, may influence future affordable housing needs and development strategies.