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Affordable Housing in Dwight: Long-Standing LIHTC Projects Amid Population Decline
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Dwight, located in Illinois, has a presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The village's LIHTC inventory consists of 28 total affordable units, all of which are designated as low-income units. Based on the estimated housing inventory of 2,174 units, the LIHTC funded affordable housing covers approximately 1.29% of the village's housing stock.
Dwight has received $69,787 in project tax credits through the LIHTC program. With two approximate projects, this averages to $34,893.50 per project. The average federal funding per unit is $2,492.39. The village holds 0.01% of the total state LIHTC funding.
The first LIHTC project in Dwight, Village Apts Of Dwight, was completed in 1988, while the most recent project, Dwight Apts, was finished in 1990. This indicates that affordable housing has been present in the village for over three decades. The 1980s saw the most affordable housing activity, with both projects completed during this decade.
The LIHTC inventory in Dwight consists of 8 one-bedroom units and 20 two-bedroom units. There are no efficiencies, three-bedroom, or four-bedroom units reported in the LIHTC-funded projects.
Over the past decade, Dwight has experienced a population decline, from 7,378 residents in 2015 to 5,675 in 2022. The median income has remained relatively stable, fluctuating between $59,305 and $67,338 during this period. The racial composition of the village has shown a slight shift, with the white population decreasing from 95% in 2018 to 89% in 2022, while the Hispanic population has grown from 3% to 7% during the same period.
Dwight's LIHTC-funded affordable housing inventory, while small, has been a consistent part of the community for over 30 years. The village's demographic trends, including population decline and slight diversification, may influence future affordable housing needs. The stable median income suggests a continued need for affordable options for lower-income residents. The current LIHTC inventory covers a small percentage of the village's estimated housing stock, providing housing options for low-income residents in Dwight.
