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Affordable Housing Analysis in Zip Code 60172: LIHTC Funded Units in Roselle, Illinois
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 60172, located in Roselle, Illinois, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory consisting of 45 total units, all of which are designated as low-income units. Based on the estimated 9,229 housing units in the zip code, the LIHTC funded affordable housing covers approximately 0.49% of the total housing inventory. This suggests that LIHTC funded projects contribute a small portion to the overall housing stock in this area.
The LIHTC program has provided $235,560 in tax credits for affordable housing projects in this zip code. With 45 total units funded, this translates to an average of $5,235 in federal funding per unit. This zip code accounts for 0.03% of the total LIHTC funding allocated to the state of Illinois.
The affordable housing presence in this zip code dates back to 1990, with the completion of Rose Glen Senior Housing I. This project has been providing affordable housing options for over three decades. The 1990s saw the most affordable housing activity in this area. All 45 units in the LIHTC funded projects are one-bedroom apartments, indicating a focus on smaller household sizes or potentially senior housing.
Over the past decade, the population in this zip code has remained relatively stable, fluctuating between 24,000 and 25,000 residents. The median income has shown a general upward trend, increasing from $86,248 in 2013 to $95,975 in 2022. This rise in median income might suggest a decreasing need for affordable housing in the area.
The racial composition of the zip code has remained predominantly white, with a slight increase from 71% in 2013 to 75% in 2022. The Hispanic population has held steady at around 10-12%, while the Asian population has fluctuated between 9-11%. The Black population has seen a decrease from 5% in 2013 to 1% in 2022.
The LIHTC program has made a modest contribution to the affordable housing inventory in zip code 60172, with 45 one-bedroom units completed in 1990. While this represents a small percentage of the overall housing stock, it has provided consistent affordable housing options for over 30 years. The increasing median income and stable population suggest that the current LIHTC funded inventory may be sufficient for the area's needs, though further analysis of other affordable housing programs and local economic factors would be necessary for a comprehensive assessment.
