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Affordable Housing in Paris, Illinois: A Modest LIHTC Inventory Amidst 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
Paris, Illinois, a city with a population of 9,145 as of 2022, has maintained a presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing for over three decades. The city's affordable housing inventory comprises 48 units, all designated as low-income. These units represent approximately 1.37% of the city's estimated 3,504 housing units.
Paris has received $42,234 in project tax credits for affordable housing through the LIHTC program. This funding is distributed across two projects, resulting in an average federal funding of $21,117 per project and $880 per unit. The city's allocation accounts for 1% of the total state LIHTC funding, indicating a small but notable contribution to Illinois' affordable housing efforts.
The city's involvement in LIHTC projects dates back to 1989 with the completion of Martin Lamplighter (Paris). The most recent project, Candlewood Manor Apts, was finished in 1995. The 1990s marked the period of most significant affordable housing development activity in Paris.
The affordable housing inventory in Paris consists of 36 one-bedroom units and 12 two-bedroom units, suggesting a focus on accommodating smaller households or individuals.
Demographically, Paris has experienced a gradual population decline over the past decade, decreasing from 9,720 in 2013 to 9,145 in 2022. Despite this decline, the median income has shown an overall upward trend, increasing from $41,811 in 2013 to $46,293 in 2022. The city's racial composition has remained predominantly white, consistently above 96% throughout the decade, with a slight increase in diversity in recent years.
In summary, Paris' LIHTC funded affordable housing inventory, while modest, contributes to addressing the housing needs of its low-income residents. The city's 1% share of the state's LIHTC credits underscores its participation in affordable housing initiatives. The prevalence of one-bedroom units indicates a focus on smaller households. Despite a slight population decrease, the rise in median income over the past decade may suggest changing economic dynamics. The stable racial composition and long-standing presence of affordable housing since the late 1980s reflect the city's consistent approach to housing diversity and accessibility.
