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Affordable Housing Analysis in Zip Code 62258: A Modest LIHTC Presence in Mascoutah, 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 62258, located in Mascoutah, Illinois, contains a small inventory of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area has 4 total affordable units, all designated as low-income units. Based on the 2022 population of 11,156 and the national average household size of 2.61, the estimated number of housing units in this zip code is approximately 4,274. The LIHTC funded affordable housing represents about 0.09% of the estimated housing inventory, indicating a minimal proportion of affordable housing through this program in the area.
The LIHTC program has provided $12,593 in tax credits for affordable housing projects in zip code 62258. With 4 total units funded, this amounts to an average of $3,148.25 in federal funding per unit. The zip code has one LIHTC funded project, Southern Illinois Manors (Project B), which was completed in 1995. This project has been providing affordable housing options in the area for nearly three decades.
The housing inventory in this LIHTC funded project consists of 2 one-bedroom units and 2 two-bedroom units, offering a mix of smaller living spaces suitable for individuals and small families.
Over the past decade, zip code 62258 has experienced steady population growth, increasing from 9,865 in 2013 to 11,156 in 2022. The median income has fluctuated, reaching a peak of $82,279 in 2021 before declining to $75,486 in 2022. Despite these income changes, no new LIHTC projects have been developed in recent years.
The racial composition of the area has remained relatively stable, with a decrease in the white population from 90% in 2013 to 81% in 2022. There has been a small increase in diversity, with modest growth in Hispanic, Asian, and multiracial populations. However, these demographic shifts have not corresponded with an increase in LIHTC funded affordable housing development.
Zip code 62258 has a single LIHTC funded affordable housing project that has been in place since 1995, providing 4 low-income units. This represents a very small portion of the estimated housing inventory in the area. Despite population growth and fluctuations in median income over the past decade, there has been no recent expansion of LIHTC funded affordable housing in this zip code. The demographic changes have not been substantial enough to drive new LIHTC developments in recent years.
