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Affordable Housing in Tuscola, Illinois: LIHTC's Impact on a Small City
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Tuscola, Illinois, a city with 5,091 residents as of 2022, has a notable presence of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The city's LIHTC inventory comprises 75 total units, with 39 designated as low-income units. Based on an estimated 1,951 housing units, LIHTC funded affordable housing represents approximately 3.8% of the city's housing stock.
Tuscola has received $344,078 in project tax credits for affordable housing through the LIHTC program. With two approximate projects, this amounts to an average of $172,039 in federal funding per project. The average federal funding per unit is about $4,588. Tuscola holds 0.04% of the total state LIHTC funding, indicating a small but significant contribution to Illinois' affordable housing efforts.
The city's involvement in LIHTC funded affordable housing spans over a decade. The first project, Meadow Green Apartments, was completed in 1998, while the most recent, Douglas County Apartments, was finished in 2011. This 13-year period demonstrates a sustained commitment to affordable housing development in Tuscola. The 2010s saw the most recent affordable housing project completion.
Tuscola's LIHTC funded housing inventory offers a range of unit types. The breakdown includes 28 one-bedroom units, 42 two-bedroom units, and 5 three-bedroom units. This distribution suggests a focus on accommodating various household sizes, with an emphasis on small to medium-sized families.
Demographic trends over the past decade reveal correlations with LIHTC development. Tuscola's population has shown slight fluctuations, growing from 4,798 in 2010 to 5,091 in 2022. The median income has increased from $56,094 in 2013 to $62,978 in 2022, indicating an improvement in economic conditions. Despite this growth, the continued presence of LIHTC housing suggests an ongoing need for affordable options.
Racial demographics in Tuscola have remained relatively stable, with a predominantly white population (90% in 2022). There has been a slight increase in diversity, with small increases in Asian, Hispanic, and multiracial populations. This demographic stability may have influenced the consistent, though limited, development of affordable housing in the city.
In summary, Tuscola's LIHTC funded affordable housing inventory, while modest in scale, represents a consistent effort to provide low-income housing options. The city's demographic trends, including population growth and income increases, suggest a continuing need for affordable housing despite economic improvements. The diversity in unit types indicates an attempt to meet varied housing needs within the community. While the LIHTC projects form a small percentage of the overall housing stock, they play a crucial role in Tuscola's housing landscape, contributing to the city's efforts to maintain housing accessibility for its lower-income residents.
