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Affordable Housing Analysis in Zip Code 62052: Three Decades of LIHTC Projects in Jerseyville, Illinois
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 62052, located in Jerseyville, Illinois, contains 140 units of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. Of these, 138 are designated as low-income units. The 2022 population of 11,629 and the national average household size of 2.61 suggest approximately 4,456 housing units in this zip code. LIHTC-funded affordable housing units comprise about 3.14% of the estimated housing inventory in the area.
The LIHTC projects in zip code 62052 have received $2,678,829 in tax credits, averaging $19,134 per unit. This funding represents 0.33% of the total LIHTC funding allocated to Illinois. Affordable housing has been present in this zip code for over thirty years. The first LIHTC project, Miller South Apts, was completed in 1987, while the most recent projects, Manor At Jerseyville Glen and Lexington Farms Subdivision, were completed in 2011.
The LIHTC-funded housing in zip code 62052 offers a range of unit types: 3 efficiencies, 65 one-bedroom units, 60 two-bedroom units, and 12 three-bedroom units. This distribution indicates accommodation for various household sizes, with an emphasis on smaller households.
The population in zip code 62052 has decreased slightly, from 12,197 in 2015 to 11,629 in 2022. Despite this decline, the median income has increased from $51,394 in 2015 to $73,137 in 2022. This income growth may indicate a changing economic landscape in the area.
The racial demographics of zip code 62052 have remained relatively stable, with the white population consistently representing over 95% of residents. There has been a slight increase in diversity, with small increases in Asian and Hispanic populations, and growth in residents identifying as two or more races.
No new LIHTC projects have been completed in zip code 62052 since 2011. This may be related to the rising median income and slight population decline, potentially indicating a reduced need for additional affordable housing units in recent years.
Zip code 62052 has an established foundation of LIHTC-funded affordable housing, with projects dating back to 1987. The 140 units represent a small portion of the estimated housing stock, providing housing options for low-income residents. The area has experienced significant income growth and slight population decline in recent years, which may have influenced the lack of new LIHTC projects since 2011. The existing affordable housing stock offers a range of unit sizes, catering to diverse household needs in this predominantly white, rural area of Illinois.
