Loading Content...
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Gilman, a small city in Illinois, has a single Low-Income Housing Tax Credit (LIHTC) funded affordable housing project. This project, Willowbrook Apartments, provides 14 low-income units, contributing to the community's affordable housing needs.
The LIHTC-funded affordable housing comprises approximately 1.8% of Gilman's estimated 787 housing units. This percentage indicates that while LIHTC contributes to affordable housing in the city, it may only address a portion of the potential need.
The LIHTC program has allocated $13,368 in tax credits for affordable housing in Gilman. This translates to an average federal funding of $13,368 per project and approximately $955 per unit for the 14 units in the LIHTC-funded project.
Willowbrook Apartments, completed in 1992, marks the inception of LIHTC-funded affordable housing in Gilman. This project has provided affordable housing options for residents for over three decades. The development consists entirely of one-bedroom units, potentially catering to single individuals or small households in need of affordable housing.
Demographic trends over the last decade show that Gilman's population has decreased from 2,319 in 2010 to 2,053 in 2022. Despite this population decline, the median income has increased from $47,255 in 2013 to $58,289 in 2022, potentially indicating changing economic conditions in the city.
Racial demographics in Gilman have remained relatively stable over the past decade, with the white population consistently representing the majority. However, the Hispanic population has shown a small but notable increase, growing from 15% in 2015 to 23% in 2022. This demographic shift may influence future affordable housing needs in the community.
In conclusion, Gilman's LIHTC-funded affordable housing, though modest in scale, has been a consistent presence in the community for over 30 years. Willowbrook Apartments provides 14 one-bedroom units, contributing to the city's affordable housing stock. Demographic trends showing a slight population decline, increasing median income, and growing Hispanic population may influence future affordable housing needs. These factors, along with other potential housing programs not covered in this analysis, should be considered in assessing the overall affordable housing landscape in Gilman.