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Affordable Housing in Morton Grove: LIHTC Funding and Demographic Shifts
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Morton Grove, located in Illinois, has implemented affordable housing initiatives through the Low-Income Housing Tax Credit (LIHTC) program. The village's LIHTC-funded affordable housing inventory comprises 138 total units, with 75 designated as low-income units. This inventory represents approximately 1.39% of the estimated 9,894 housing units in the city.
Morton Grove has received $363,059 in project tax credits through the LIHTC program. With two approximate projects, this translates to an average federal funding of $181,530 per project and $2,631 per unit. The city holds 0.04% of the total state LIHTC funding, indicating a modest share of Illinois' affordable housing resources.
Affordable housing has been present in Morton Grove since at least 2004, with the most recent project completed in 2012. The decade of the 2000s saw the most affordable housing projects completed. Notable projects include the Morton Grove Senior Apts, completed in 2004, and The Homestead At Morton Grove, finished in 2012.
The city's LIHTC-funded affordable housing inventory comprises 41 one-bedroom units and 97 two-bedroom units. This distribution suggests a focus on accommodating smaller households and families.
Over the last decade, Morton Grove has experienced a modest population growth, increasing from 23,981 in 2019 to 25,823 in 2022. The median income has fluctuated, reaching $88,964 in 2022, indicating a relatively affluent community. The racial distribution has remained relatively stable, with a slight increase in the Asian population from 30% to 32% and a small rise in the Hispanic population from 6% to 7% between 2019 and 2022.
The absence of new LIHTC projects in the last decade may be attributed to the city's relatively high median income and stable demographics, suggesting a potentially lower demand for additional low-income housing units.
Morton Grove's LIHTC-funded affordable housing inventory provides important housing options for low-income residents. The city's two LIHTC projects, completed in 2004 and 2012, offer a mix of one- and two-bedroom units. Despite the absence of new LIHTC developments in recent years, the existing inventory continues to contribute to the city's housing diversity. The stable demographic trends and high median income may influence the current demand for additional affordable housing in the community.
