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Affordable Housing in Glenview: Low-Income Tax Credit Impact on Suburban Illinois 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
Glenview, Illinois, with a population of 59,922 as of 2022, has 144 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. These units, all designated as low-income, represent approximately 0.63% of the city's estimated 22,959 housing units.
Glenview has received $1,299,176 in LIHTC project tax credits for affordable housing. This funding, allocated to one project, averages $1,299,176 per project and $9,022 per unit. The village's LIHTC funding constitutes 0.16% of Illinois' total state funding for such projects.
Thomas Place, completed in 2006, is the sole LIHTC-funded project in Glenview. This project marks the inception of LIHTC-funded affordable housing in the city, indicating a 16-year presence of such housing. The affordable housing inventory primarily consists of 44 one-bedroom units and one two-bedroom unit, with no efficiencies, three-bedroom, or four-bedroom units.
Glenview has experienced modest population growth, increasing from 55,652 in 2010 to 59,922 in 2022. The median income has risen from $104,677 in 2013 to $107,669 in 2022, indicating an affluent community.
Racial demographics have remained relatively stable. The white population decreased slightly from 72% in 2013 to 66% in 2022, while the Asian population increased modestly from 16% to 20%. Other racial groups have maintained consistent percentages.
The absence of additional LIHTC projects in the past decade may be attributed to the city's high median income and stable demographic composition, potentially indicating limited demand for additional low-income housing units.
Glenview's LIHTC-funded affordable housing inventory provides 144 low-income units to the community. The single project, Thomas Place, has served the community since 2006. Despite population growth and increasing median income, there has been no significant expansion in LIHTC-funded housing over the past decade. This analysis provides insights into Glenview's affordable housing landscape, highlighting LIHTC funding's role in addressing housing needs within this affluent Illinois community.
