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Affordable Housing in West Chicago: LIHTC Program's Impact on Senior Living
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
West Chicago, a city in Illinois, has 99 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units, all designated as low-income units. These units represent approximately 0.9% of the city's estimated housing inventory of 11,058 units. The city has received $369,197 in project tax credits through the LIHTC program. With one approximate project, this translates to an average federal funding of $369,197 per project and $3,729 per unit. West Chicago holds 0.05% of the total state LIHTC funding, indicating a relatively small share of Illinois' affordable housing resources.
The sole LIHTC project in West Chicago is the West Chicago Senior Apts, completed in 2003. This project has been providing affordable housing in the city for nearly two decades. The development consists of 99 units, with 97 one-bedroom apartments and 2 two-bedroom units, primarily catering to the needs of senior residents.
West Chicago's population has decreased from 30,796 in 2013 to 28,862 in 2022. Despite this population decline, the median income has increased from $77,221 in 2013 to $85,363 in 2022, suggesting an overall improvement in economic conditions for residents.
The racial composition of West Chicago has remained relatively stable, with a slight increase in diversity. The Hispanic population has consistently represented about half of the city's residents, while the White population has slightly decreased from 43% in 2013 to 41% in 2022. The Asian population has grown from 7% to 8% during this period.
The absence of new LIHTC projects in the last decade may be attributed to the rising median income and relatively stable population, potentially indicating a reduced need for additional low-income housing units. However, other affordable housing programs not captured in this data may also be serving the community's needs.
West Chicago's LIHTC-funded affordable housing inventory, while modest in size, contributes to addressing the city's housing needs. The West Chicago Senior Apts project has been a longstanding contributor to the city's affordable housing stock since 2003. Despite demographic shifts and rising median incomes, the stable racial composition and slight population decline suggest a consistent community fabric. While the LIHTC program's impact appears limited in terms of percentage of housing stock covered, this analysis does not account for other potential affordable housing initiatives in the city.
