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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 60914, located in Bourbonnais, Illinois, has a population of 28,531 as of 2022. This area has 128 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units, all of which are designated as low-income units. Based on the estimated housing inventory of 10,931 units, the LIHTC funded affordable housing covers approximately 1.17% of the zip code's housing stock.
The LIHTC program has invested $363,440 in tax credits for affordable housing projects in this zip code. This translates to an average federal funding of $2,839 per unit. Zip code 60914 accounts for 0.04% of the total LIHTC funding allocated to the state of Illinois.
The Hidden Glen Apartments, completed in 2007, represents the primary LIHTC funded project in the area. This development has been providing affordable housing options to the community for over 15 years. The project consists of 128 units, including 8 one-bedroom and 12 two-bedroom apartments, catering to diverse household sizes within the low-income population.
Over the past decade, the population in zip code 60914 has remained relatively stable, with a slight decrease from 29,744 in 2019 to 28,531 in 2022. The median income has shown an upward trend, rising from $74,928 in 2018 to $79,131 in 2022, indicating a gradual improvement in economic conditions for some residents.
The racial composition of the zip code has remained fairly consistent, with the white population representing the majority at around 77-80% throughout the past decade. There has been a slight increase in diversity, with small growth in the Asian and multi-racial populations.
The presence of LIHTC funded housing suggests a continued need for affordable options in the community. The stable population and increasing median income may indicate that the current affordable housing stock is meeting some of the area's needs, but further analysis would be required to determine if additional affordable housing is necessary.
Zip code 60914 in Bourbonnais, Illinois, features a notable LIHTC funded affordable housing presence, with 128 low-income units concentrated in one project. While this represents a small percentage of the overall housing stock, it provides essential affordable options for the community. The area has experienced stable population levels and increasing median incomes over the past decade, suggesting a balance between economic growth and the need for affordable housing. The long-standing presence of the Hidden Glen Apartments demonstrates a commitment to maintaining affordable housing options in the area.