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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Ullin, situated in Illinois, is a small rural community with a history of affordable housing development through the Low-Income Housing Tax Credit (LIHTC) program. The village has one LIHTC-funded project, Cache Valley Apartments, which provides 40 total units, including 4 low-income units. This development represents approximately 9.6% of the city's estimated housing stock of 415 units.
The LIHTC program has invested $279,185 in tax credits for affordable housing in Ullin. This investment equates to an average federal funding of $279,185 per project and $6,980 per unit. Ullin accounts for 0.03% of the total LIHTC funding allocated to Illinois, reflecting its small size and rural nature.
Cache Valley Apartments, completed in 1997, marks the inception of LIHTC-funded affordable housing in Ullin. This project has been operational for over two decades, offering a variety of unit types to accommodate different household sizes. The development consists of 22 efficiencies, 17 one-bedroom units, and 1 two-bedroom unit, addressing diverse housing needs within the community.
Demographic trends in Ullin over the past decade reveal population fluctuations. From 2013 to 2022, the population decreased from 1,141 to 1,082 residents. Despite this slight decline, the median income has increased from $37,479 in 2013 to $48,525 in 2022. This rise in median income may indicate an improving economic situation for some residents, potentially affecting the demand for additional affordable housing units.
Racial demographics in Ullin have also changed over the past decade. The white population has increased from 69% in 2013 to 77% in 2022, while the Black population has decreased from 27% to 17% during the same period. The Hispanic population, which was not reported in 2013, stood at 5% in 2022. These shifts in racial composition may influence the diverse housing needs of the community.
In conclusion, Ullin's LIHTC-funded affordable housing, represented by Cache Valley Apartments, has been a consistent presence in the community for over 25 years. While the current affordable housing stock falls below the ideal target of 15-20%, the village's changing demographics and increasing median income suggest a complex and evolving housing landscape. The mix of unit types in the LIHTC project demonstrates an effort to address varied housing needs within the community. As Ullin continues to change, ongoing assessment of affordable housing needs will be crucial to ensure adequate housing options for all residents.