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Affordable Housing in Gardner: 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
Gardner, Illinois, has one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project. This project provides 12 affordable units, all designated as low-income. The LIHTC-funded affordable housing comprises approximately 1.59% of the city's estimated housing stock of 756 units.
The city has received $18,243 in project tax credits from the LIHTC program for affordable housing. This equates to an average federal funding of $18,243 per project and about $1,520 per unit.
The single LIHTC-funded project in Gardner is Garden Grove Apartments, completed in 1988. This project has provided affordable housing in the city for over three decades. It consists of 9 one-bedroom units and 3 two-bedroom units, offering a range of housing options for low-income residents.
Gardner's population has fluctuated over the last decade, with 1,973 residents recorded in 2022. The median income has also varied, reaching $63,775 in 2022.
The city's racial demographics have shifted slightly. The white population decreased from 94% in 2017 to 82% in 2022. Concurrently, the Hispanic population increased from 4% in 2017 to 14% in 2022. The Asian population has remained relatively stable at approximately 2%.
These demographic changes, particularly the increase in the Hispanic population and fluctuations in median income, may indicate evolving affordable housing needs in the community. However, no new LIHTC projects have been developed in recent years to address these potential needs.
Gardner's affordable housing is characterized by a single LIHTC-funded project, Garden Grove Apartments, providing low-income housing options since 1988. This project contributes to the city's affordable housing stock but represents a small percentage of the total housing inventory. The city's changing demographics suggest potentially evolving affordable housing needs. Further analysis of other affordable housing programs and initiatives would be necessary to fully assess whether the current housing stock adequately meets the needs of low-income residents in Gardner.
