Loading Content...
Affordable Housing Analysis in Zip Code 61951: Sullivan, Illinois LIHTC Investments
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
The zip code 61951, located in Sullivan, Illinois, features Low-Income Housing Tax Credit (LIHTC) funded affordable housing. This area contains 68 affordable housing units, with 50 designated as low-income units. The estimated housing inventory in this zip code as of 2022 is approximately 3,061 units. LIHTC funded affordable housing represents about 2.22% of the estimated housing stock in zip code 61951.
The LIHTC program has invested in this zip code, with project tax credits totaling $527,232. This equates to an average federal funding of approximately $7,753 per unit across all LIHTC funded projects. Zip code 61951 accounts for 0.07% of the total LIHTC funding allocated to Illinois.
Affordable housing in this zip code spans over a decade. The first project, Westport Apts, was completed in 2007, and the most recent, Jefferson Square Apts, was finished in 2014. The 2000s experienced the most affordable housing development activity in this area.
LIHTC funded projects in zip code 61951 offer various unit types. There are 24 one-bedroom units, 32 two-bedroom units, and 12 three-bedroom units. This variety accommodates different household sizes and needs within the low-income population.
The population in zip code 61951 has remained relatively stable over the past decade, fluctuating between 7,800 and 8,200 residents. Median income has shown an upward trend, increasing from $53,291 in 2013 to $66,799 in 2022. This rise in median income may indicate a growing need for affordable housing options to ensure housing remains accessible to lower-income residents.
The racial composition of zip code 61951 has remained predominantly white, consistently above 95% throughout the observed period. There has been a slight increase in diversity, with small but growing Hispanic and multiracial populations.
Zip code 61951 demonstrates a commitment to affordable housing through its LIHTC funded projects. These projects represent a small percentage of the overall estimated housing stock but provide crucial low-income housing options. The area has seen steady investment in affordable housing over more than a decade, with projects catering to various household sizes. As the median income continues to rise, maintaining and potentially expanding affordable housing options may become increasingly significant to ensure housing accessibility for all income levels in this community.
