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Affordable Housing in Washington, Illinois: A Single LIHTC Project Analysis
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Washington, Illinois, with a population of 18,957 as of 2022, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory consisting of 6 units, all designated as low-income. This represents approximately 0.08% of the city's estimated 7,263 housing units. The city has received $188,006 in project tax credits from the LIHTC program for affordable housing. With one project, this equates to an average federal funding of $188,006 per project and $31,334 per unit. Washington holds 0.02% of the total state funding for LIHTC projects.
The LIHTC funded affordable housing in Washington consists of one project, Washington Village Estates (Slf), completed in 2007. This project marks the beginning of LIHTC funded affordable housing in the city, with a history spanning over 15 years. All 6 units in the LIHTC funded project are one-bedroom units, catering to individuals or small households in need of affordable housing.
Washington has experienced slight population fluctuations over the past decade, with a peak of 19,402 residents in 2018 and a current population of 18,957 in 2022. The median income has shown an overall upward trend, increasing from $73,577 in 2013 to $84,395 in 2022, indicating growing economic prosperity in the city.
The racial composition of Washington has remained relatively stable, with the white population consistently representing the majority at around 93-94% of the total population. There has been a slight increase in Hispanic representation, growing from 2% in 2013 to 4% in 2022, while other racial groups have maintained relatively constant proportions.
Washington's LIHTC funded affordable housing inventory, while modest in scale, has been a part of the community since 2007. The single project, Washington Village Estates (Slf), provides 6 one-bedroom units for low-income residents. Despite the city's growing median income and stable population, the percentage of LIHTC funded affordable housing remains low compared to the estimated housing inventory. The demographic trends suggest a relatively homogeneous population with a slight increase in diversity over the past decade.
