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Affordable Housing in Pittsfield, Illinois: A Study of LIHTC 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
Pittsfield, Illinois, a city with a population of 4,856 as of 2022, has a unique affordable housing inventory funded by the Low-Income Housing Tax Credit (LIHTC) program. The city's LIHTC-funded housing consists of 42 units, all of which are designated as low-income. These units represent approximately 2.26% of Pittsfield's estimated total housing stock of 1,861 units.
The LIHTC program has allocated $95,977 in project tax credits to Pittsfield. This funding supports one project, resulting in an average federal funding of $95,977 per project and $2,285 per unit. Pittsfield's LIHTC funding accounts for 0.01% of the total state funding for affordable housing in Illinois.
The city's LIHTC-funded affordable housing inventory is composed of 18 one-bedroom units, 23 two-bedroom units, and 1 three-bedroom unit. This distribution indicates a focus on accommodating smaller households and families. The sole LIHTC project in Pittsfield, Dogwood Properties, was completed in 2001 and has been providing affordable housing options for over two decades.
Pittsfield's population has shown a declining trend over the past decade, decreasing from 5,378 in 2015 to 4,856 in 2022. Despite this population decline, the median income has increased from $40,661 in 2015 to $49,539 in 2022, suggesting an improvement in the overall economic situation of the residents.
The racial composition of Pittsfield has remained relatively stable. The white population has consistently represented about 95% of the total population. The Black population has slightly decreased from 3% in 2015 to 1% in 2022, while the Hispanic population has remained steady at around 1%.
Pittsfield's LIHTC-funded affordable housing inventory, though modest in size, contributes to addressing the city's housing needs. The single project, Dogwood Properties, has provided 42 low-income units since 2001. Despite a declining population, the city has experienced an increase in median income over the past decade. The stable racial composition and rising incomes indicate that the current affordable housing stock may be meeting the needs of the low-income population. However, ongoing assessment of housing needs will be crucial for future planning.
