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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Greenville, Illinois, a city with a population of 9,331 as of 2022, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory consisting of 42 total units, all designated as low-income units. These units represent approximately 1.17% of the city's estimated housing stock of 3,575 units. The city has received $276,318 in project tax credits from the LIHTC program for affordable housing. This funding translates to an average of $276,318 per project and $6,579 per unit, with Greenville holding 0.03% of the total state LIHTC funding.
The Kingsbury Campus Apartments, completed in 2001, is the sole LIHTC-funded project in Greenville. This project has been providing affordable housing in the city for over two decades. The affordable housing units in Greenville primarily consist of two-bedroom units, with 32 such units available, and one three-bedroom unit. This distribution indicates a focus on accommodating small families or households.
Greenville's population has shown a slight decline over the past decade, decreasing from 9,599 in 2013 to 9,331 in 2022. The median income has fluctuated, peaking at $56,021 in 2017 and declining to $47,561 in 2022. This recent decrease in median income may indicate an increased need for affordable housing options.
The racial demographics of Greenville have shifted over the past decade. The white population has decreased from 88% in 2013 to 81% in 2022. Concurrently, the Black population has increased from 2% to 12%, and the Hispanic population has grown from 2% to 5%. These changes in racial composition may influence the diversity of affordable housing needs in the community.
In summary, Greenville's LIHTC-funded affordable housing, while limited to one project, provides 42 low-income units, primarily consisting of two-bedroom apartments. This represents a small portion of the city's estimated housing inventory. The demographic trends, including a slight population decline and recent decrease in median income, may indicate an evolving need for affordable housing options. The changing racial composition of the city could also impact future affordable housing requirements.