Loading Content...
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 60462 in Orland Park, Illinois, has a population of 41,360 as of 2022 and covers an area of 15.81 square miles. The Low-Income Housing Tax Credit (LIHTC) program has funded affordable housing in this zip code, providing a total of 80 units, with 72 of those designated as low-income units. Based on the estimated housing inventory of 15,847 units, the LIHTC-funded affordable housing covers approximately 0.51% of the zip code's housing stock.
The LIHTC project in this zip code received $1,950,000 in tax credits, averaging $24,375 per unit. This funding represents 0.24% of the total LIHTC allocation for the state of Illinois, indicating a relatively small but notable investment in affordable housing for this area.
The only LIHTC-funded project in this zip code is Thomas Place - Orland Park, completed in 2013. This development has been providing affordable housing options in the area for about a decade. The project consists of 74 one-bedroom units and 6 two-bedroom units, catering primarily to individuals or small families in need of affordable housing.
Over the past decade, the population in this zip code has shown steady growth, increasing from 40,027 in 2013 to 41,360 in 2022. The median income has fluctuated but generally remained high, ranging from $90,711 in 2013 to $90,168 in 2022. This suggests a relatively affluent area, which may explain the limited number of LIHTC projects.
Racial demographics have remained relatively stable, with a slight decrease in the white population from 84% in 2013 to 79% in 2022. There has been a modest increase in diversity, with the Hispanic population growing from 7% to 13% and the Asian population from 4% to 5% during this period. The black population has also seen a slight increase from 2% to 3%.
The LIHTC program has made a small but significant contribution to affordable housing in zip code 60462, with one project providing 80 units, mostly one-bedroom apartments. While this represents a small percentage of the overall housing stock, it is important to note that other affordable housing programs may also be present in the area. The zip code's high median income and stable demographics suggest a relatively affluent community, which may influence the limited scale of LIHTC investment. However, the presence of this project indicates recognition of the need for diverse housing options even in higher-income areas.