The LIHTC funded affordable housing in this zip code was developed between 2013 and 2014. Two notable projects completed during this period are Myers Place in 2013 and Mount Prospect Horizon in 2014. These developments demonstrate a recent commitment to affordable housing in the area.

The affordable housing inventory includes a variety of unit types: 18 efficiencies, 28 one-bedroom units, and 21 two-bedroom units. This diversity in unit sizes accommodates various household compositions within the low-income population.

Demographic shifts have occurred in the zip code over the past decade. The population increased slightly from 54,455 in 2010 to 56,791 in 2022. Median income rose from $86,306 in 2013 to $89,604 in 2022, with a peak of $101,166 in 2021.

Racial diversity has increased marginally. The white population decreased from 69% in 2013 to 65% in 2022. The Hispanic population grew from 14% to 15%, and the Asian population increased from 12% to 13%. The Black population also experienced a small increase from 1% to 2%.

The completion of LIHTC projects in 2013 and 2014 coincides with the beginning of these demographic shifts, potentially responding to changing community needs and increasing diversity.

Zip code 60056 in Mount Prospect, Illinois, has a modest but significant LIHTC funded affordable housing presence. The 130 low-income units across two projects represent a concentrated effort to provide affordable housing options. The substantial federal investment and the zip code's share of state LIHTC funding underscore the importance of these projects. While the affordable housing stock covers a small percentage of the estimated housing inventory, it provides crucial options for low-income residents in an area with rising median incomes and increasing diversity.