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Affordable Housing in South Shore: LIHTC's Impact on Chicago Neighborhood
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
South Shore, a neighborhood in Chicago, Illinois, has a significant presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area contains 1,928 total units in LIHTC-funded projects, with 1,572 of these designated as low-income units. Based on the 2022 population of 47,276 and an estimated 18,113 housing units, the LIHTC-funded affordable housing comprises approximately 10.6% of the neighborhood's estimated housing inventory.
The LIHTC program has invested substantially in South Shore, with project tax credits totaling $6,718,795. This equates to an average federal funding of about $3,485 per unit in LIHTC-funded projects. The neighborhood has a history of affordable housing development spanning from 1987 to 2005, with the earliest LIHTC projects being Merrill Court Apts and 7031-7047 Merrill Assoc, and the most recent being New Vistas II.
The 1990s witnessed the highest number of affordable housing project completions in South Shore, including developments such as South Shore Apts, South Shore Manor, and Kingston Apts. The LIHTC-funded housing stock in the neighborhood is diverse, consisting of 258 efficiencies, 536 one-bedroom units, 329 two-bedroom units, and 24 three-bedroom units. This distribution indicates a focus on accommodating smaller households and potentially seniors.
Several projects are specifically designed for senior citizens, including Senior Suites of South Shore and Senior Suites Rainbow Beach, indicating recognition of the aging population's housing needs in the area.
South Shore's population has shown overall growth over the past decade, increasing from 41,763 in 2017 to 47,276 in 2022. This population growth may indicate a continued need for affordable housing options. The median income has also experienced an upward trend, rising from $27,356 in 2017 to $37,525 in 2022, which could impact the demand for affordable housing.
Racial demographics in South Shore have remained relatively stable. The Black population has consistently represented over 90% of residents. The Hispanic population has slightly increased from 1% to 3% between 2013 and 2022, while the White population has remained around 2-3%.
South Shore's LIHTC-funded affordable housing inventory plays a significant role in the neighborhood's housing landscape, comprising about 10.6% of the estimated housing stock. The area has seen consistent investment in affordable housing over nearly two decades, with a diverse range of unit types catering to various household sizes and needs, including a focus on senior housing. While there have been no new LIHTC projects since 2005, the neighborhood's demographic trends, including population growth and income changes, suggest an ongoing need for affordable housing options. The stable racial composition indicates that the LIHTC projects have been serving a predominantly Black community throughout their existence in South Shore.
