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Affordable Housing in Fairfield, Illinois: LIHTC Program's Impact on a Small City
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Fairfield, Illinois, maintains a limited Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The city possesses 64 affordable units, all categorized as low-income. Based on the 2022 population of 6,188 and the national average household size of 2.61, the estimated housing inventory is approximately 2,371 units. LIHTC-funded affordable housing comprises about 2.7% of the estimated housing units in Fairfield.
Fairfield has received $516,241 in project tax credits through the LIHTC program. With two projects, this averages to $258,120.50 per project. The average federal funding per unit is $8,066.27. Fairfield accounts for 0.06% of the total state LIHTC funding.
The initial LIHTC project in Fairfield, Village Apts Of Fairfield, was completed in 1994, while the most recent project, Manor At The Woodlands, was finished in 2007. This indicates that affordable housing has been present in the city for at least 13 years.
The 2000s witnessed the most affordable housing activity, with the completion of Manor At The Woodlands in 2007. This project added 32 units to the city's affordable housing inventory.
Fairfield's LIHTC-funded housing includes 4 one-bedroom units, 2 two-bedroom units, and 31 three-bedroom units. The emphasis on larger units suggests a demand for family-oriented affordable housing in the area.
Over the past decade, Fairfield has experienced a gradual population decline, from 6,741 in 2013 to 6,188 in 2022. Despite this decrease, the median income has shown an overall upward trend, rising from $36,636 in 2013 to $46,743 in 2022. This increase in median income may partially explain the absence of new LIHTC projects in recent years.
The racial composition of Fairfield has remained relatively stable, with a predominantly white population (94% in 2022). There has been a slight increase in diversity, with small increases in Hispanic, Asian, and multiracial populations.
Fairfield's LIHTC-funded affordable housing inventory provides 64 low-income units across two projects. These units account for approximately 2.7% of the estimated housing inventory. The city has not seen new LIHTC projects since 2007, which may be partially attributed to the rising median income and declining population. The existing affordable housing stock focuses on larger units, potentially catering to families in need. While the racial composition of the city has remained relatively stable, there has been a slight increase in diversity over the past decade.
