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Affordable Housing Analysis in Zip Code 62233: Three Decades of LIHTC Impact in Chester, 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 62233 in Chester, Illinois, exhibits a distinct affordable housing landscape supported by the Low-Income Housing Tax Credit (LIHTC) program. This area contains 64 LIHTC-funded units, of which 28 are designated as low-income units. Based on an estimated 2,453 housing units in the zip code, LIHTC-funded affordable housing constitutes approximately 2.6% of the total housing inventory.
The LIHTC program has invested $219,868 in tax credits for affordable housing projects in zip code 62233, averaging about $3,435 per unit. This investment represents 0.03% of Illinois' total LIHTC funding, indicating a small but significant contribution to the state's affordable housing efforts.
Affordable housing has been present in this zip code for nearly three decades. The initial LIHTC project, Chesterton Manor, was completed in 1993, while the most recent, Manor At Craig Farms, was finished in 2007. The 2000s witnessed the most substantial development in affordable housing for this area.
The LIHTC-funded housing stock in zip code 62233 provides a range of unit types. It includes 24 efficiencies, 18 one-bedroom units, and 4 two-bedroom units. This distribution indicates a focus on accommodating smaller households and individuals.
Over the past decade, zip code 62233 has experienced a gradual population decline, from 7,825 residents in 2015 to 6,402 in 2022. Despite this decrease, median income has fluctuated, reaching $66,500 in 2021 before settling at $58,732 in 2022. The racial composition has remained relatively stable, with a slight increase in Hispanic residents from 2% to 5% between 2015 and 2022, while the white population has maintained a majority at around 80%.
The absence of new LIHTC projects in the last decade may be attributed to the declining population and relatively stable median income, potentially indicating a reduced demand for additional affordable housing units.
Zip code 62233 presents a case of established affordable housing presence through the LIHTC program. The proportion of LIHTC-funded units is modest compared to the overall housing stock, yet it represents a consistent commitment to affordable housing spanning nearly 30 years. The demographic trends, including population decline and income fluctuations, provide context for the current state of affordable housing development in the area. This analysis demonstrates the complex interplay between housing policy, demographic shifts, and community needs in shaping the affordable housing landscape of a small urban area.
