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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 62930 in Illinois covers 76.0 square miles and had a population of 5,987 in 2022. This area contains 18 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units, all of which are designated as low-income. These units represent approximately 0.78% of the estimated 2,294 housing units in the zip code.
The LIHTC program has invested $22,709 in tax credits for affordable housing projects in zip code 62930. This equates to an average federal funding of $1,262 per unit. Two LIHTC-funded projects exist in this area: Dd Apts and Eldorado Properties III, both completed in 1989. This indicates that affordable housing has been present in the zip code for over three decades.
The 1980s saw the most affordable housing activity in zip code 62930, with both projects being completed during that decade. The unit distribution includes 7 one-bedroom units and 2 two-bedroom units, with the remaining units' configurations unspecified in the data.
Zip code 62930 has experienced a gradual population decline over the past decade, from 6,579 in 2014 to 5,987 in 2022. Despite this decrease, median income has shown an overall upward trend, rising from $36,184 in 2014 to $48,300 in 2022. The racial composition has remained relatively stable, with the white population consistently representing over 90% of residents. There has been a slight increase in Hispanic representation, from 1% in 2014 to 2% in 2022.
The absence of new LIHTC projects in the last decade may be attributed to the declining population and increasing median income, potentially indicating a reduced need for additional affordable housing units.
Zip code 62930 has a small LIHTC-funded affordable housing inventory, established in the late 1980s. These units contribute to meeting some affordable housing needs but represent a small fraction of the estimated housing stock. The area has experienced population decline and income growth over the past decade, which may have influenced the lack of new LIHTC developments. The stable racial composition and modest increase in diversity suggest a relatively unchanging demographic landscape in recent years.