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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 61104, located in Rockford, Illinois, features a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. This area contains 202 total affordable units, all designated as low-income units. Based on the estimated 7,149 housing units in the zip code, the LIHTC-funded affordable housing covers approximately 2.8% of the area's housing inventory.
The LIHTC projects in zip code 61104 have received $1,978,421 in tax credits, averaging about $9,794 per unit in federal funding. This zip code holds 0.24% of the total state LIHTC funding, indicating a modest investment in affordable housing for the area.
Affordable housing has been part of this zip code for over three decades. The first LIHTC project, Anchor Housing I, was completed in 1991, while the most recent, Jane Addams Park Apts, was finished in 2012. The 1990s saw the most affordable housing projects completed, with three projects: Anchor Housing I, Old City Hall Apts, and 528 Seventh Street.
The LIHTC-funded housing in zip code 61104 offers various unit types. Out of the 202 total units, there are 82 efficiencies, 57 one-bedroom units, 23 two-bedroom units, and 13 three-bedroom units. This distribution suggests a focus on accommodating different household sizes and needs within the community.
Over the past decade, the population in zip code 61104 has shown overall growth, increasing from 17,116 in 2010 to 18,658 in 2022. The median income has also risen, from $24,589 in 2013 to $28,737 in 2022, indicating a modest improvement in economic conditions.
Race distribution trends show shifts in the community's makeup. The white population decreased from 48% in 2013 to 42% in 2022, while the Black population increased from 18% to 23% during the same period. The Hispanic population remained relatively stable, moving from 23% to 24%. These changes suggest growing diversity in the area.
Despite these demographic shifts, no new LIHTC projects have been completed since 2012. This could indicate that other affordable housing programs may be addressing the community's needs, or that the existing LIHTC inventory is currently sufficient for the area's low-income population.
Zip code 61104 in Rockford, Illinois, has an established LIHTC-funded affordable housing inventory spanning several decades. With 202 low-income units across six projects, it represents a small but important portion of the area's housing stock. The diverse unit types cater to various household sizes, and the federal investment averages nearly $10,000 per unit. While demographic trends show population growth and increasing diversity, no new LIHTC projects have been completed in recent years. This analysis provides insight into the affordable housing landscape of zip code 61104, highlighting the long-term presence of LIHTC-funded housing in the community.