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Lockport, Illinois: A Case Study of LIHTC-Funded Affordable Housing
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Lockport, Illinois, has a single Low-Income Housing Tax Credit (LIHTC) funded project in its affordable housing inventory. This project, known as "Lockport Senior Housing," was completed in 2001 and provides 5 affordable units, all of which are designated as low-income. Based on the 2022 population and national average household size, the estimated housing inventory of Lockport is 11,292 units. The LIHTC-funded affordable housing represents approximately 0.04% of the city's estimated housing stock.
The city has received $313,273 in project tax credits through the LIHTC program. This amount represents the total federal funding for the single project, averaging $62,655 per unit. Lockport's LIHTC funding constitutes 0.04% of Illinois' total state LIHTC funding. All 5 units in the Lockport Senior Housing project are one-bedroom units, indicating a focus on smaller household sizes or individual residents.
Lockport's population has experienced modest growth over the past decade, increasing from 28,458 in 2015 to 29,471 in 2022. Concurrently, the median income has risen significantly, from $83,526 in 2015 to $89,650 in 2022, suggesting an overall improvement in the economic conditions of the city's residents.
The racial demographics of Lockport have remained relatively stable. The white population consistently represents the majority at approximately 84-87% of the total population. The Hispanic population has fluctuated between 8-10%, while other racial groups have maintained small but consistent representations.
The absence of new LIHTC projects in the last decade may be attributed to the rising median income and stable population growth, potentially indicating a reduced need for additional low-income housing units. However, it is important to note that other affordable housing programs not covered by this data may be addressing any remaining needs.
In summary, Lockport's LIHTC-funded affordable housing inventory consists of a single project completed in 2001, providing 5 one-bedroom units for low-income residents. While this represents a small portion of the city's estimated housing stock, it has been a consistent source of affordable housing for over two decades. The city's demographic trends, including rising median income and stable population growth, may have influenced the lack of new LIHTC projects in recent years. A comprehensive assessment of Lockport's affordable housing needs would require consideration of other housing programs and local economic factors beyond the scope of this LIHTC-specific analysis.
