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Affordable Housing Analysis in Zip Code 61330: La Moille's LIHTC Inventory Since 1992
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
La Moille, located in zip code 61330 in Illinois, has a Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory of 25 total units, with 24 designated as low-income units. Based on the 2022 population of 1,224 and using the national average household size, there are approximately 469 housing units in this zip code. The LIHTC funded affordable housing comprises about 5.3% of the estimated housing inventory in the zip code.
The LIHTC program has invested $42,566 in tax credits for affordable housing projects in zip code 61330. This equates to an average federal funding of $1,703 per unit. This zip code accounts for approximately 0.01% of the total state LIHTC funding, indicating a small portion of Illinois' overall affordable housing investment.
The affordable housing in zip code 61330 has been present since 1992, with two projects: Landview Apts and Ohio Housing. Both projects were completed in 1992, marking the 1990s as the decade with the most affordable housing development in this area.
The LIHTC funded projects in zip code 61330 consist primarily of two-bedroom units, with 14 in total. There are also 2 one-bedroom units. This distribution suggests a focus on accommodating small families or couples in the affordable housing inventory.
Over the past decade, the population in zip code 61330 has decreased from 1,285 in 2013 to 1,224 in 2022. Despite this population decline, the median income has increased from $57,085 in 2013 to $78,609 in 2022. This indicates a changing economic landscape in the area.
The racial composition of zip code 61330 has remained relatively stable, with a predominantly white population (94% in 2022). There has been a slight increase in diversity, with small increases in Hispanic (3% in 2022) and two or more races (2% in 2022) populations.
The LIHTC program has contributed to providing affordable housing in zip code 61330, with 25 units added to the area's housing inventory. The projects, completed in 1992, represent a small but significant portion of the estimated housing stock. While the population has decreased slightly over the past decade, median income has increased, potentially affecting the demand for affordable housing. The stable racial composition and the focus on two-bedroom units in LIHTC projects suggest a consistent approach to addressing local housing needs.
