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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 60178, located in Sycamore, Illinois, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 16 units. These units are all designated as low-income. Based on the 2022 population of 23,079 and the national average household size of 2.61, the estimated housing inventory for this zip code is approximately 8,843 units. The LIHTC funded affordable housing comprises about 0.18% of the estimated housing units in the zip code.
The LIHTC program has provided $16,213 in tax credits for affordable housing projects in zip code 60178. With 16 total units funded, this translates to an average federal funding of approximately $1,013 per unit. The sole LIHTC funded project in this zip code is Sycamore West Apts, completed in 1989. This project has been providing affordable housing options in the area for over three decades. It consists of 16 units, including 2 one-bedroom and 14 two-bedroom apartments, catering to various household sizes within the low-income community.
Over the past decade, the population in zip code 60178 has remained relatively stable, fluctuating between 23,000 and 23,700 residents. The median income has shown an overall upward trend, increasing from $69,947 in 2013 to $79,753 in 2022, with some fluctuations in between. This rise in median income might suggest a decreasing need for additional affordable housing units in recent years.
The racial composition of zip code 60178 has remained predominantly white, consistently accounting for about 84-85% of the population throughout the past decade. There has been a slight increase in racial diversity, with small increases in the Hispanic, Black, and Asian populations. The Hispanic population, in particular, has grown from 7% in 2018 to 10% in 2022.
The LIHTC funded affordable housing in zip code 60178 consists of a single project with 16 units, completed in 1989. This represents a small fraction of the estimated housing inventory, but it has provided consistent affordable housing options for over 30 years. The area has experienced stable population growth and increasing median income over the past decade, which may influence the demand for affordable housing. The racial composition has remained predominantly white, with a slight increase in diversity in recent years.