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Affordable Housing in Golden: A Single-Project Legacy
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Golden, Illinois is a small community with a population of 1,296 as of 2022. The city has one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project, providing a total of 6 low-income units. Based on the estimated housing inventory of approximately 497 units, the LIHTC funded affordable housing covers about 1.2% of the city's housing stock.
The city has received $24,884 in project tax credits from the LIHTC program for affordable housing. With one project in the city, this translates to an average federal funding of $24,884 per project and $4,147 per unit.
The only LIHTC funded project in Golden is the Golden Good Shepherd Home, completed in 1995. This project has been providing affordable housing in the city for over 25 years. All 6 units in this project are two-bedroom units, catering to small families or individuals who need extra space.
Over the last decade, Golden has experienced some fluctuations in its population, with a slight overall increase from 1,219 in 2013 to 1,296 in 2022. The median income has also seen some variability, rising from $50,276 in 2013 to $54,774 in 2022, indicating a modest improvement in the economic conditions of the residents.
The racial composition of Golden has remained predominantly white throughout the past decade, with the white population consistently representing over 90% of the total. There has been a minimal presence of other racial groups, with some years showing small percentages of Hispanic residents and individuals of two or more races.
Golden's LIHTC funded affordable housing inventory consists of one project with 6 low-income units, all of which are two-bedroom apartments. While this represents a small portion of the city's estimated housing stock, it has been providing affordable housing options for over 25 years. The city's demographics show a relatively stable population with a slight increase in median income over the past decade, which may influence the demand for affordable housing in the community.
