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Affordable Housing in Highland, Illinois: A Three-Decade LIHTC Program Analysis
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Highland, located in Illinois, has a population of 15,615 as of 2022. The city's Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory consists of 36 total units, all of which are designated as low-income units. Based on the estimated housing inventory of 5,983 units, the LIHTC funded affordable housing covers approximately 0.60% of the city's housing stock.
Highland has received $56,504 in project tax credits from the LIHTC program for affordable housing. With two approximate projects, this translates to an average federal funding of $28,252 per project. When divided by the total number of units, it equates to an average federal funding of $1,569 per unit. The city holds 0.01% of the total state LIHTC funding.
The affordable housing projects in Highland span from 1991 to 1993. The first project built was Senior Plaza Apts in 1991, followed by Senior Plaza Apts II in 1993. This indicates that affordable housing has been present in the city for over three decades. The 1990s saw the most affordable housing projects completed in Highland.
The LIHTC funded housing in Highland consists of 30 one-bedroom units and 6 two-bedroom units. There are no efficiencies, three-bedroom, or four-bedroom units reported in these projects.
Over the last decade, Highland's population has remained relatively stable, with a slight increase from 15,285 in 2013 to 15,615 in 2022. The median income has shown an upward trend, rising from $74,444 in 2013 to $84,051 in 2022. The racial distribution has remained predominantly white, consistently above 90% throughout the decade, with small increases in diversity, particularly in the Asian and multi-racial categories.
Highland's LIHTC funded affordable housing inventory, while modest in size, has been a part of the community for over 30 years. The two projects, both completed in the early 1990s, provide 36 low-income units, primarily consisting of one-bedroom apartments. Despite the city's stable population and increasing median income over the past decade, the racial composition has remained largely unchanged. The LIHTC program has contributed a small but significant portion to the city's affordable housing needs, representing 0.01% of Illinois' total LIHTC funding.
