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Affordable Housing in New Baden: LIHTC's Impact on a Small Illinois Village
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
New Baden in Illinois maintains a modest Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The village has one LIHTC project, Southern Illinois Manor, which provides 4 low-income units. These units constitute approximately 0.27% of the estimated 1,491 housing units in the city, based on the 2022 population of 3,891 and the national average household size.
The Southern Illinois Manor project received $18,133 in tax credits through the LIHTC program, averaging $4,533 per unit in federal funding. Completed in 1993, this project has been part of New Baden for nearly three decades.
The LIHTC-funded housing in New Baden consists of 3 two-bedroom units and 1 three-bedroom unit, accommodating small to medium-sized families. This distribution indicates a focus on providing options for diverse household sizes within the affordable housing inventory.
Demographic trends over the past decade reveal notable patterns. New Baden's population has remained relatively stable between 2013 and 2022. The median income has increased significantly, rising from $65,640 in 2013 to $80,915 in 2022, representing a 23% growth over this period.
Racial distribution in New Baden has shown changes. The white population remains the majority but has decreased from 92% in 2014 to 87% in 2022. Diversity has increased modestly, with the Hispanic population growing from 1% in 2014 to 8% in 2022, and the Black population fluctuating between 3% and 7% during this period.
The absence of new LIHTC projects in the last decade may be attributed to factors such as the rising median income and the relatively stable population. These demographic trends could suggest a decreased need for additional low-income housing in recent years.
In conclusion, New Baden's LIHTC-funded affordable housing inventory, though small, has been a consistent part of the community since 1993. The single project provides a mix of unit sizes to accommodate different household needs. Despite the limited LIHTC inventory, the village's demographic trends, particularly the rising median income, may indicate changing housing needs in the community.
