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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 61880 in Tolono, Illinois, contains a small inventory of affordable housing funded by the Low-Income Housing Tax Credit (LIHTC) program. This area has 16 affordable units, all of which are designated as low-income units. These units represent approximately 0.86% of the zip code's estimated 1,856 housing units, based on the 2022 population of 4,845.
The LIHTC program has invested $25,094 in tax credits for affordable housing projects in zip code 61880. This investment equates to an average federal funding of $1,568 per unit. Tolono Manor Apartments, completed in 1990, is the only LIHTC-funded project in the area. This development has provided affordable housing options in the zip code for over 30 years.
Tolono Manor Apartments consists of 16 units, comprising 12 one-bedroom units and 4 two-bedroom units. This unit mix accommodates different household sizes within the low-income population of the area.
Zip code 61880 has experienced demographic changes over the past decade. The population increased from 4,257 in 2013 to 4,845 in 2022, indicating steady growth. Median income also rose from $64,393 in 2013 to $74,369 in 2022, suggesting an overall improvement in economic conditions for the area's residents.
Racial demographics in zip code 61880 have remained relatively stable, with a slight increase in diversity. The white population decreased marginally from 92% in 2013 to 92% in 2022, while other racial groups experienced small increases. The Black population, for example, grew from 0% to 4% during this period.
Despite these demographic changes, no new LIHTC projects have been developed in zip code 61880 since 1990. This lack of new development may be attributed to various factors, including the relatively high median income and the small size of the community.
Zip code 61880 contains one LIHTC-funded affordable housing project, Tolono Manor Apartments, which has served the community since 1990. This project provides 16 low-income units, representing a small fraction of the estimated housing inventory in the area. The zip code has experienced population growth and increased median income over the past decade, which may influence the perceived need for additional affordable housing. The racial composition has remained predominantly white, with slight increases in diversity. These demographic trends, combined with the existing LIHTC project, provide context for understanding the affordable housing landscape in zip code 61880.