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Affordable Housing Analysis in Zip Code 62901: LIHTC Impact on Carbondale, 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 62901 in Carbondale, Illinois, contains a significant Low-Income Housing Tax Credit (LIHTC) funded affordable housing inventory. The area has 632 total units in LIHTC-funded projects, with 570 designated as low-income units. This represents approximately 7.4% of the estimated 8,518 housing units in the zip code.
The LIHTC projects in zip code 62901 have received $7,582,194 in project tax credits, averaging about $12,000 in federal funding per unit. This funding represents 0.94% of Illinois' total LIHTC allocations, indicating a substantial investment in affordable housing for this area.
Affordable housing has been present in this zip code since at least 1997, with the completion of Jackson Street Apts. The most recent project, Mill Street Station, was completed in 2014, demonstrating a 17-year span of LIHTC-funded development. The decade from 2000 to 2010 saw the most affordable housing projects completed, with four developments: Carbondale Tower, Cornerstone Place, Prairie Living Of Chautauqua, and Villas Of Carbondale.
The LIHTC-funded inventory in zip code 62901 offers a diverse range of unit types. Out of the 632 total units, there are 91 efficiencies, 320 one-bedroom units, 145 two-bedroom units, 31 three-bedroom units, and 9 four-bedroom units. This distribution suggests a focus on accommodating various household sizes, with a predominance of smaller units.
Over the past decade, zip code 62901 has experienced a decline in population, from 25,953 in 2015 to 22,231 in 2022. Despite this decrease, the median income has shown an overall upward trend, rising from $32,287 in 2015 to $36,786 in 2022. The racial composition has remained relatively stable, with a slight increase in the Black population from 23% to 26% and a consistent White population of around 60%.
The last LIHTC project in this zip code was completed in 2014. The subsequent demographic trends, including population decline and increasing median income, may partially explain why no new LIHTC projects have been developed in recent years.
Zip code 62901 has a substantial LIHTC-funded affordable housing inventory, covering 7.4% of its estimated housing units. The area has seen consistent investment in affordable housing over nearly two decades, with a diverse range of unit types to accommodate different household sizes. The LIHTC program has played a significant role in providing affordable housing options in this zip code, contributing to its housing diversity and accessibility for lower-income residents.
