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Affordable Housing Analysis in Zip Code 61025: Badger Ridge Homes Project in East Dubuque
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
East Dubuque, located in zip code 61025 in Illinois, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory consisting of 42 total units, with 41 designated as low-income units. Based on the estimated 1,570 housing units in the zip code, the LIHTC funded affordable housing covers approximately 2.67% of the total housing inventory.
The LIHTC program has invested $669,421 in tax credits for affordable housing projects in this zip code. This translates to an average federal funding of $15,938 per unit. Zip code 61025 accounts for 0.08% of the total LIHTC funding allocated to the state of Illinois.
The affordable housing in this zip code is represented by a single project, Badger Ridge Homes, which was completed in 2004. This project has been providing affordable housing options in the area for nearly two decades. All 42 units in this project are three-bedroom units, indicating a focus on accommodating families or larger households.
Over the past decade, the population in zip code 61025 has shown a slight decline, decreasing from 4,233 in 2018 to 4,098 in 2022. The median income has fluctuated, reaching a peak of $71,012 in 2017 before decreasing to $64,498 in 2022. This trend might suggest a growing need for affordable housing options.
The racial composition of zip code 61025 has remained predominantly white, with a slight decrease from 97% in 2018 to 93% in 2022. There has been a small increase in diversity, with the Hispanic population growing from 0% to 3% and the Black population increasing from 1% to 2% during this period.
The LIHTC funded affordable housing in zip code 61025 consists of a single project, Badger Ridge Homes, providing 42 three-bedroom units. This project contributes to the area's affordable housing stock, representing a relatively small portion of the estimated total housing inventory. The demographic trends over the past decade, including a slight population decline and fluctuating median income, may indicate an ongoing need for affordable housing options in this zip code.
