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Affordable Housing in Mattoon, Illinois: LIHTC Program Impact on Small City Housing
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Mattoon, Illinois, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The city's LIHTC inventory comprises 275 total affordable units, all designated as low-income units. This represents approximately 3.4% of the city's estimated housing inventory of 8,076 units.
Mattoon has received $1,410,262 in project tax credits through the LIHTC program. With three approximate projects, this translates to an average of $470,087 in federal funding per project. The average federal funding per unit is $5,128. Mattoon holds 0.17% of Illinois' total LIHTC funding allocation.
The city's LIHTC-funded affordable housing history spans from 1999 to 2007. The first project, Coles Crossing Apts, was completed in 1999, while the most recent project, Sunrise Apts, was finished in 2007. This indicates that affordable housing has been a part of Mattoon's landscape for over two decades.
The 2000s saw the most affordable housing development, with two projects completed during this decade: Mattoon Towers II in 2005 and Sunrise Apts in 2007.
Mattoon's LIHTC-funded housing stock comprises a mix of unit types. There are 26 one-bedroom units, 48 two-bedroom units, and 33 three-bedroom units. The absence of efficiencies and four-bedroom units suggests a focus on small to medium-sized families and individuals.
Over the past decade, Mattoon's population has shown a slight decline, decreasing from 22,175 in 2015 to 21,078 in 2022. Despite this population decrease, the median income has risen from $48,204 in 2015 to $49,810 in 2022, indicating a modest improvement in economic conditions.
The racial composition of Mattoon has remained relatively stable, with a slight decrease in the white population from 95% in 2015 to 93% in 2022. There has been a small increase in diversity, with the Hispanic population growing from 1% to 2% and the Black population from 1% to 2% during this period.
Given that no new LIHTC projects have been built in the last decade, the slight increase in median income and relatively stable population might suggest that the existing affordable housing stock has been sufficient to meet the city's needs during this period.
Mattoon's LIHTC-funded affordable housing inventory, while modest at 3.4% of the estimated housing stock, has been a consistent part of the city's housing landscape for over two decades. The city has received a significant amount of federal funding for these projects, averaging $470,087 per project. The housing stock is diverse, catering to various household sizes with a mix of one-, two-, and three-bedroom units. While demographic trends show a slight population decline and modest income growth over the past decade, the racial composition has remained relatively stable with a small increase in diversity. These factors may have influenced the lack of new LIHTC projects in recent years, possibly indicating that the current affordable housing stock is meeting the city's present needs.
