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Affordable Housing in Winnebago: LIHTC's Impact on a Small Illinois Community
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Winnebago, Illinois, maintains a small Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The village has 40 affordable housing units, including 4 designated as low-income units. This LIHTC-funded housing represents approximately 2.57% of the estimated 1,558 housing units in the city.
Winnebago has received $52,334 in LIHTC project tax credits. This funding translates to an average of $52,334 per project and approximately $1,308 per unit. The village's share of Illinois' total LIHTC funding is 0.01%, indicating a relatively small portion of the state's affordable housing investment.
The LIHTC-funded housing in Winnebago dates back to 1997 with the completion of Clayton Court Apartments. This project has provided affordable housing options for over two decades. Clayton Court Apartments consists of 40 units, including 12 one-bedroom and 28 two-bedroom apartments, primarily accommodating small families and individuals.
Winnebago has experienced demographic changes over the past decade. The population decreased from 4,526 in 2018 to 4,067 in 2022, a decline of approximately 10%. Despite this population decrease, the median income increased from $86,136 in 2018 to $89,936 in 2022, suggesting an improvement in overall economic conditions for residents.
The racial composition of Winnebago has shifted slightly. The white population decreased from 95% in 2019 to 88% in 2022, while the Hispanic population increased from 2% in 2019 to 8% in 2022. These demographic changes may influence future affordable housing needs and considerations.
Winnebago's LIHTC-funded affordable housing inventory, although small, has been a consistent presence since 1997. The Clayton Court Apartments project provides 40 units of affordable housing. Despite recent population decline, the village has experienced an increase in median income and a growing Hispanic population. These demographic shifts may impact future affordable housing needs and strategies in Winnebago.
