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Affordable Housing Analysis in Zip Code 60630: LIHTC Funded Inventory and Demographic Trends
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 60630 in Chicago, Illinois, has a population of 56,549 as of 2022. The area contains a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 275 total units, with 194 designated as low-income units. This LIHTC funded inventory represents approximately 1.27% of the zip code's estimated 21,666 housing units.
The LIHTC projects in zip code 60630 have received $975,795 in tax credits, averaging $3,548 per unit. This funding constitutes 0.12% of Illinois' total LIHTC allocation. Affordable housing has been present in this zip code for over two decades, with the first LIHTC project completed in 1997 and the most recent in 2018. The 2000s experienced the highest affordable housing development activity in this area.
The LIHTC funded housing inventory in zip code 60630 includes 55 efficiencies, 169 one-bedroom units, and 51 two-bedroom units. This distribution indicates a focus on housing for smaller households and potentially seniors.
The population in zip code 60630 has remained relatively stable over the past decade, ranging between 56,000 and 58,000 residents. The median income has shown an overall upward trend, increasing from $68,419 in 2013 to $79,349 in 2022, with a peak of $90,574 in 2021. This growth in median income may indicate a changing economic landscape in the area.
The racial composition of zip code 60630 has remained fairly consistent. The white population decreased slightly from 59% in 2013 to 55% in 2022, while the Hispanic population remained stable at 27% from 2013 to 2022. The Asian population increased slightly from 11% to 13% during this period.
The most recent LIHTC project in 2018 coincides with a period of relative stability in the area's demographics, suggesting that affordable housing development has continued to address ongoing needs in the community.
Zip code 60630 in Chicago has a modest but significant LIHTC funded affordable housing inventory, covering about 1.27% of the estimated housing stock. The area has seen consistent investment in affordable housing over the past two decades, with projects tailored to smaller households. While the median income has increased, the steady population and consistent racial composition suggest an ongoing need for affordable housing options in this diverse community.
