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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 60444, located in Mazon, Illinois, contains one Low-Income Housing Tax Credit (LIHTC) funded affordable housing project. This project, named Park Place, consists of two units, both of which are designated as low-income units. Completed in 2007, Park Place has been providing affordable housing options in the area for over 15 years. The project comprises two one-bedroom units, catering to smaller households or individuals in need of affordable housing.
The LIHTC program has invested $208,810 in tax credits for affordable housing in this zip code. This investment translates to an average federal funding of $104,405 per unit. The funding represents 0.03% of Illinois' total LIHTC funding allocation, indicating a relatively small share of the state's affordable housing resources. Based on the 2022 population of 2,439 and an estimated 934 housing units in the zip code, the LIHTC-funded affordable housing covers approximately 0.21% of the estimated housing inventory.
Over the past decade, the population in zip code 60444 has shown overall growth, increasing from 2,243 in 2013 to 2,439 in 2022. The median income has also risen, from $76,085 in 2013 to $77,915 in 2022, indicating a slight improvement in economic conditions. Racial demographics have remained relatively stable, with the white population consistently representing over 90% of residents. The Hispanic population has shown a slight increase, from 4% in 2013 to 6% in 2022.
Despite the population growth and slight increase in median income, there have been no additional LIHTC projects developed in the last decade. This could be due to various factors, including the relatively high median income in the area, which may reduce the perceived need for additional affordable housing units.
Zip code 60444 in Mazon, Illinois, has a small but established LIHTC-funded affordable housing presence. The single project, Park Place, provides two low-income units, representing a minor portion of the estimated housing inventory. The demographic trends suggest a relatively stable community with a predominantly white population and a growing Hispanic presence. The limited LIHTC investment in this zip code may reflect the area's economic characteristics and specific affordable housing needs.