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Affordable Housing in Huntley, Illinois: A Study of LIHTC-Funded Units
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Huntley in Illinois has a specific Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The village contains 152 affordable units, all designated as low-income units. These units comprise approximately 1.34% of the estimated 11,367 total housing units in Huntley. Huntley has received $644,414 in project tax credits through the LIHTC program. This funding is distributed across approximately two projects, resulting in an average federal funding of $322,207 per project. The average federal funding per unit is $4,239. Huntley's share of the total state funding for LIHTC projects in Illinois is 0.08%. The LIHTC program has been present in Huntley for 26 years. The first project, Parkview, was constructed in 1987, and the most recent project, Deer Path Of Huntley, was completed in 2013. The affordable housing inventory in Huntley includes 44 efficiencies, 79 one-bedroom units, 17 two-bedroom units, and 12 three-bedroom units.
Huntley has experienced steady population growth over the past decade. The population increased from 22,367 in 2010 to 29,668 in 2022. The median income in the village has fluctuated but remained relatively high, reaching $86,405 in 2022. The presence of LIHTC projects in this affluent community indicates a recognized need for affordable housing options.
The racial composition of Huntley has remained predominantly white, with slight increases in diversity over time. The Asian population grew from 3% in 2013 to 5% in 2022, while the Black population increased from 1% to 5% during the same period. The Hispanic population has remained relatively stable at approximately 9-10%. This gradual diversification may influence future affordable housing needs and development in the village.
The LIHTC-funded affordable housing inventory in Huntley, while modest compared to the overall housing stock, provides 152 low-income units across various configurations. The village has maintained a consistent commitment to affordable housing for nearly three decades. Despite the village's relatively high median income, the presence of LIHTC projects underscores the importance of providing diverse housing options to support a range of income levels within the community. As Huntley continues to grow and diversify, monitoring and addressing affordable housing needs will remain essential for maintaining a balanced and inclusive community.
