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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Rolling Meadows, an Illinois city, has a single Low-Income Housing Tax Credit (LIHTC) funded affordable housing project. This project, named Plum Creek Slf, provides 102 affordable housing units, all designated as low-income. Based on the 2022 population of 40,947 and an estimated 15,689 housing units, LIHTC-funded affordable housing comprises approximately 0.65% of the city's estimated housing inventory.
The city received $311,240 in project tax credits from the LIHTC program for affordable housing. This amount equates to an average federal funding of $311,240 per project and $3,051 per unit. Rolling Meadows accounts for 0.04% of the total state LIHTC funding.
Plum Creek Slf, completed in 2006, marked the inception of LIHTC-funded affordable housing in Rolling Meadows. This project has been offering affordable housing options for over 15 years. It consists of 102 units, including 77 efficiencies and 25 one-bedroom units, indicating a focus on accommodating single individuals or small households.
Rolling Meadows has experienced steady population growth over the past decade, increasing from 37,430 in 2013 to 40,947 in 2022. The median income has also risen significantly, from $81,280 in 2013 to $94,863 in 2022, suggesting an overall improvement in economic conditions.
Racial demographics in the city have shifted slightly. The white population decreased from 67% in 2013 to 60% in 2022. The Hispanic population increased from 19% to 21%, and the Asian population grew from 8% to 12% during this period. These changes indicate growing diversity in the city's population.
Despite demographic shifts and rising median income, no new LIHTC projects have been developed in Rolling Meadows in the last decade. This lack of development could be attributed to various factors, including changes in housing priorities, availability of land, or shifts in funding allocation strategies.
Rolling Meadows' single LIHTC-funded affordable housing project, Plum Creek Slf, has been providing 102 low-income units since 2006. While this project represents a small portion of the city's estimated housing inventory, it has been a consistent source of affordable housing for over 15 years. The city's demographic trends show population growth, increasing median income, and growing diversity. However, these changes have not led to additional LIHTC developments in recent years, suggesting that other factors may be influencing affordable housing development in the area.