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Affordable Housing in El Paso, 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
El Paso, Illinois, a small city with a population of 2,746 as of 2022, has one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project. This project provides a total of 8 affordable units, all designated as low-income units. Based on the estimated housing inventory of 1,052 units, the LIHTC-funded affordable housing covers approximately 0.76% of the city's housing stock.
The LIHTC program has provided $13,082 in tax credits for affordable housing in El Paso. With one project funded, this translates to an average federal funding of $13,082 per project and $1,635.25 per unit.
The sole LIHTC-funded project in El Paso is Sunnyview A & B (Evergreen), completed in 1993. This project has been providing affordable housing in the city for nearly three decades. The project consists of 3 one-bedroom units and 5 two-bedroom units, offering a mix of housing options for low-income residents.
Over the past decade, El Paso's population has remained relatively stable, fluctuating between 2,700 and 2,800 residents. The median income has shown an overall upward trend, increasing from $58,508 in 2013 to $68,942 in 2022. This rise in median income could potentially indicate a reduced need for additional affordable housing units in recent years.
The racial composition of El Paso has remained predominantly white, consistently accounting for over 90% of the population throughout the past decade. There has been a slight increase in diversity, with small percentages of Black, Hispanic, and multiracial residents.
El Paso, Illinois has a single LIHTC-funded affordable housing project that has been serving the community since 1993. While the project provides a small percentage of the city's estimated housing stock, it offers a mix of one and two-bedroom units for low-income residents. The city's stable population and increasing median income over the past decade may have influenced the lack of additional LIHTC projects in recent years.
