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Affordable Housing in Viola, Illinois: A Single LIHTC Project's Impact
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Viola, located in Illinois, has a LIHTC-funded affordable housing inventory consisting of 8 low-income units. This represents approximately 1.25% of the city's estimated 638 housing units. The LIHTC program has contributed $55,845 in project tax credits to Viola, accounting for 0.01% of the total state funding for LIHTC projects in Illinois. The average federal funding per unit is $6,980.63.
The sole LIHTC project in Viola is Viola Senior Apts, completed in 1997. This project has provided affordable housing options for over two decades. It consists of 8 units in total, with 4 one-bedroom units and 4 two-bedroom units, suggesting a focus on accommodating smaller households and potentially senior residents.
Viola has experienced demographic changes over the past decade. The population decreased slightly from 1,749 in 2010 to 1,666 in 2022. The median income increased from $57,527 in 2013 to $72,672 in 2022, potentially indicating a reduced need for additional affordable housing units in recent years.
The racial distribution in Viola has shown some changes. The white population decreased from 95% in 2013 to 88% in 2022. The Hispanic population remained relatively stable at 4-6% throughout the decade. The percentage of residents identifying as two or more races increased from 0% in 2013 to 5% in 2022, indicating a gradual increase in diversity within the community.
In summary, Viola's LIHTC-funded affordable housing inventory comprises a single project that has served the community since 1997. While the LIHTC-funded units represent a small portion of the estimated housing stock, they provide important affordable housing options, particularly for smaller households. The community has experienced moderate changes in demographics over the past decade, with a slight population decrease, increasing median income, and gradual diversification of its racial composition. These factors may influence the current and future needs for affordable housing in Viola.
