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Affordable Housing in Keithsburg, Illinois: A Single LIHTC Project's Impact
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Keithsburg, Illinois, a city with a population of 832 as of 2022, has one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project. This project, known as the Village Green Apartments, provides 12 low-income units. Based on an estimated housing inventory of approximately 319 units, the LIHTC funded affordable housing accounts for about 3.8% of the city's housing stock.
The LIHTC program has allocated $25,520 in tax credits for affordable housing in Keithsburg. This allocation translates to an average federal funding of $25,520 per project and $2,126.67 per unit. The Village Green Apartments, completed in 1995, has been providing affordable housing in the city for over 25 years.
The Village Green Apartments consist of 12 units, comprising 11 one-bedroom units and 1 two-bedroom unit. This distribution indicates a focus on accommodating smaller households or individuals in need of affordable housing.
Keithsburg's population has shown a general trend of slight growth over the past decade, increasing from 708 in 2019 to 832 in 2022. The median income has experienced a significant increase, rising from $33,367 in 2017 to $51,313 in 2022. This substantial income growth may suggest a reduced need for additional affordable housing in recent years.
The racial composition of Keithsburg has remained relatively stable. The white population has consistently comprised 96-97% of the total population, while the percentage of residents identifying as two or more races has remained around 2-3% throughout the past decade.
Keithsburg's affordable housing landscape is characterized by a single LIHTC project, the Village Green Apartments, which has served the community since 1995. While the project provides 12 low-income units, it covers a relatively small portion of the city's estimated housing inventory. The city has experienced population growth and a significant increase in median income over the past decade, which may influence the current demand for affordable housing. The stability in racial demographics suggests that the housing needs of the population have remained relatively consistent in terms of diversity.
