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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Washington Heights, a neighborhood in Chicago, Illinois, has one LIHTC-funded affordable housing project. This project provides 85 affordable housing units. Based on the 2022 population of 5,213 and the estimated 1,997 housing units, LIHTC-funded affordable housing comprises approximately 4.26% of the neighborhood's estimated housing inventory.
The LIHTC program has invested $598,756 in tax credits for affordable housing in Washington Heights. This equates to an average federal funding of $7,044 per unit. The sole LIHTC project, Senior Suites of Washington Heights, was completed in 2000, establishing over two decades of affordable housing presence in the area.
The project consists of 85 units, with 52 efficiencies and 33 one-bedroom apartments. This unit distribution indicates a focus on accommodating single residents or small households, particularly seniors, as suggested by the project's name.
Washington Heights has experienced demographic shifts over the past decade. The population has remained relatively stable, with slight fluctuations. In 2013, the population was 5,195, and by 2022, it had increased slightly to 5,213.
Median income in the neighborhood has shown a significant increase. In 2013, the median income was $36,530, and by 2022, it had risen to $51,408, representing a 40.7% increase over this period. This trend indicates an overall improvement in the economic conditions of the neighborhood's residents.
Racial demographics have remained consistent, with the Black population constituting the majority. In 2013, 98% of the population was Black, and this percentage remained at 98% in 2022. There has been a slight increase in diversity, with small percentages of White and multi-racial residents appearing in recent years.
The stability of the LIHTC housing inventory alongside the increasing median income suggests that the existing affordable housing units have been sufficient to meet the neighborhood's needs. However, other affordable housing programs not captured in this data might also be contributing to the neighborhood's housing landscape.
Washington Heights has maintained a consistent LIHTC-funded affordable housing presence since 2000, with 85 units primarily serving seniors. While this covers only a small percentage of the estimated housing inventory, it has remained stable amidst demographic changes. The neighborhood has experienced a significant increase in median income over the past decade while maintaining a predominantly Black population. These trends provide context for understanding the role of LIHTC-funded housing in Washington Heights and may inform future affordable housing strategies in the area.