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Affordable Housing in Plainfield: A Decade of LIHTC Implementation
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Plainfield, Illinois, a suburb southwest of Chicago, has experienced significant population growth, reaching 61,194 residents in 2022. The city has one Low-Income Housing Tax Credit (LIHTC) funded project, providing 108 affordable housing units, with 87 designated as low-income units. This LIHTC-funded housing represents approximately 0.46% of the city's estimated 23,446 housing units.
Plainfield has received $371,465 in project tax credits through the LIHTC program. This translates to an average federal funding of $371,465 per project and $3,439 per unit. The city holds 0.05% of the total state LIHTC funding. The sole LIHTC-funded project, Heritage Woods of Plainfield, was completed in 2011 and consists of 108 units, including 54 efficiencies and 54 one-bedroom units.
Over the past decade, Plainfield's population has grown steadily, increasing from 50,139 in 2010 to 61,194 in 2022. The median income has risen from $118,431 in 2013 to $131,417 in 2022. Racial demographics have changed, with the white population decreasing from 75% in 2013 to 67% in 2022, while Asian, Black, and Hispanic populations have modestly increased. The Asian population grew from 7% in 2013 to 11% in 2022.
Despite population growth and demographic shifts, there has not been an increase in LIHTC-funded projects since 2011. This could be attributed to the city's rising median income, potentially reducing the perceived need for additional low-income housing. However, other affordable housing programs not covered in this data may be addressing the city's evolving needs.
Plainfield's LIHTC-funded affordable housing inventory consists of a single project completed in 2011, providing 108 units primarily suited for small households. This project contributes to the city's affordable housing stock but represents a small percentage of the overall housing inventory. The city has experienced significant population growth and increasing median income over the past decade, which may influence the perceived need for additional LIHTC-funded housing. A comprehensive understanding of Plainfield's affordable housing landscape would require consideration of other housing programs and initiatives not captured in this LIHTC-specific data.
