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Affordable Housing in Tonica: A Three-Decade Legacy 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
Tonica, located in Illinois, maintains a small but significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The village has 16 affordable units, all categorized as low-income units. These LIHTC-funded units represent approximately 4.76% of the village's estimated 336 housing units.
Tonica has received $23,713 in project tax credits from the LIHTC program for affordable housing. This funding translates to an average of $23,713 per project and approximately $1,482 per unit in federal funding. The village's affordable housing initiative began in 1989 with the completion of Tonica Manor, which has been providing affordable housing options for over three decades.
Tonica Manor consists of 16 units, including 12 one-bedroom and 4 two-bedroom apartments, catering to various household sizes within the low-income population. This single project represents the entirety of LIHTC-funded affordable housing in the village.
Over the past decade, Tonica has experienced demographic changes. The population has declined slightly, decreasing from 1,040 in 2019 to 878 in 2022. Despite this population decrease, the median income has increased from $57,749 in 2019 to $65,336 in 2022.
The racial distribution in Tonica has remained relatively stable, with a predominantly white population. However, there has been a slight increase in diversity. The Hispanic population has grown from 9% in 2018 to 10% in 2022. The village has also seen a small increase in Asian and Black populations, each representing 1% of the total population in 2022.
These demographic shifts, particularly the rising median income, may influence the demand for affordable housing in the community. However, segments of the population may still require affordable housing options despite increasing incomes.
Tonica's LIHTC-funded affordable housing, while modest in scale, contributes to providing low-income housing options to the community. Tonica Manor has been serving the area for over 30 years, offering a mix of one and two-bedroom units. While LIHTC-funded housing covers a small percentage of the estimated housing stock, other programs or initiatives may also contribute to the overall affordable housing inventory in the village. The demographic trends, including a slight population decline and increasing median income, may influence future affordable housing needs in Tonica.
