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Affordable Housing Analysis in Zip Code 62236: Limited LIHTC Inventory Amidst Population Growth
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 62236 in Columbia, Illinois, has a limited Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The area contains 2 total affordable units, all of which are designated as low-income units. Based on the 2022 population of 15,648 and the national average household size of 2.61, approximately 5,995 housing units are estimated in this zip code. The LIHTC funded affordable housing covers only about 0.03% of the estimated housing inventory, indicating a minimal proportion of affordable housing through this program in the area.
The LIHTC program has provided $8,886 in project tax credits for affordable housing in zip code 62236. With 2 total units funded, this translates to an average federal funding of $4,443 per unit. The zip code has one LIHTC funded project, Mccarron #2, which was completed in 1992. This indicates that affordable housing through the LIHTC program has been present in the zip code for about three decades.
The project consists entirely of three-bedroom units, suggesting a focus on accommodating families or larger households. No specific target population is mentioned for this project, indicating it may serve a general low-income population.
Over the past decade, zip code 62236 has experienced steady population growth, increasing from 13,437 in 2013 to 15,648 in 2022. The median income has also risen significantly, from $76,667 in 2013 to $104,333 in 2022, representing a 36% increase. This substantial income growth might partially explain the lack of recent LIHTC developments, as the area may have less perceived need for additional low-income housing.
The racial composition of zip code 62236 has remained relatively stable, with the white population consistently comprising about 94-96% of residents throughout the decade. There has been a slight increase in Hispanic representation, growing from 1% in 2013 to 2% in 2022.
Zip code 62236 has a very limited LIHTC funded affordable housing inventory, with only one project providing 2 units of low-income housing. This represents a small fraction of the estimated housing stock in the area. The sole LIHTC project was completed in 1992, and there have been no new developments in recent years. The zip code has experienced significant population and income growth over the past decade, which may influence the perceived need for additional affordable housing. The LIHTC program's contribution to affordable housing in this zip code is minimal.
