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Affordable Housing Analysis in Zip Code 62232: LIHTC Impact on Caseyville, 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 62232, located in Caseyville, Illinois, contains a notable Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. This area has 102 total units in LIHTC-funded projects, with 87 of these designated as low-income units. Based on the 2022 population of 7,761 and using the national average household size, approximately 2,974 housing units are estimated in this zip code. The LIHTC-funded affordable housing covers about 3.4% of the estimated housing inventory.
The LIHTC program has invested $615,387 in tax credits for affordable housing projects in this zip code. This translates to an average federal funding of approximately $6,033 per unit. Zip code 62232 accounts for 0.08% of the total LIHTC funding allocated to the state of Illinois.
Affordable housing has been present in this community for over two decades. The first LIHTC project, Valley Ridge Senior Community, was completed in 2001, while the most recent, Knollwood Retirement Center St Clair, was finished in 2011. The 2010s saw the most significant development in affordable housing for this area.
The LIHTC-funded projects in zip code 62232 offer a mix of unit types. There are 86 efficiencies, 14 one-bedroom units, and 2 two-bedroom units. This distribution suggests a focus on accommodating smaller households or individuals.
Over the past decade, the population in zip code 62232 has shown overall growth, increasing from 6,963 in 2020 to 7,761 in 2022. The median income has also risen significantly, from $77,495 in 2020 to $83,461 in 2022. This economic improvement might partially explain why no new LIHTC projects have been developed in recent years.
Racial demographics have remained relatively stable, with a slight decrease in the white population from 72% in 2020 to 69% in 2022, and small increases in Hispanic and multi-racial populations. These changes do not appear to have significantly impacted LIHTC development in the area.
Zip code 62232 has a modest LIHTC-funded affordable housing inventory, covering about 3.4% of the estimated housing stock. The area has seen two LIHTC projects developed over a decade, with a focus on efficiency and one-bedroom units. While the population and median income have grown in recent years, there has not been new LIHTC development since 2011. This analysis provides insight into the affordable housing landscape of zip code 62232, highlighting the role of LIHTC in addressing housing needs in the community.
