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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
West Garfield Park, a neighborhood in Chicago, Illinois, has a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The neighborhood contains 385 total units in LIHTC funded projects, with 376 of these designated as low-income units. Based on the 2022 population of 14,081 and using the national average household size of 2.61, the estimated housing inventory for the neighborhood is approximately 5,395 units. The LIHTC funded affordable housing covers about 7.1% of the estimated housing inventory in West Garfield Park.
The LIHTC program has invested significantly in West Garfield Park, with project tax credits totaling $2,923,518. This translates to an average federal funding of approximately $7,593 per unit in LIHTC funded projects.
Affordable housing has been a long-standing feature in West Garfield Park, with the first LIHTC projects, "401-3 S Kilbourn" and "Guyon Assoc," completed in 1988. The most recent project, "Anathoth Gardens," was completed in 2018, indicating a 30-year span of LIHTC investment in the neighborhood.
The 1990s saw the most affordable housing activity, with four projects completed during this decade: "North Pulaski," "West Washington Assoc," "New Life Assoc," and "Austin Square."
The LIHTC funded housing in West Garfield Park offers a diverse range of unit types. There are 52 efficiencies, 22 one-bedroom units, 92 two-bedroom units, and 52 three-bedroom units. This mix suggests an effort to accommodate various household sizes and needs within the affordable housing inventory.
Over the past decade, West Garfield Park has experienced some demographic shifts. The population decreased from 15,829 in 2014 to 14,081 in 2022, a decline of about 11%. Despite this population decrease, the median income has shown an upward trend, rising from $24,192 in 2014 to $31,108 in 2022, an increase of approximately 29%.
The racial composition of the neighborhood has remained predominantly Black, though there has been a slight decrease from 94% in 2014 to 88% in 2022. Concurrently, there has been a small increase in the Hispanic population, from 3% in 2014 to 7% in 2022.
The most recent LIHTC project, "Anathoth Gardens," was completed in 2018, which aligns with a period of population decline but rising median incomes. This suggests that while the overall population was decreasing, there was still a need for affordable housing options for lower-income residents.
West Garfield Park's LIHTC funded affordable housing inventory represents a significant investment in the neighborhood over three decades. The 385 units, with 376 designated as low-income, cover about 7.1% of the estimated housing inventory. The diverse unit mix indicates an effort to accommodate various household sizes. While the neighborhood has experienced population decline and rising median incomes in recent years, the completion of a LIHTC project in 2018 suggests an ongoing need for affordable housing options. The demographic shifts, including a slight increase in ethnic diversity, may influence future affordable housing needs and development in the area.