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Affordable Housing Analysis: Zip Code 62626 in Carlinville, 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 62626 in Carlinville, Illinois, contains 23 total units of Low-Income Housing Tax Credit (LIHTC) funded affordable housing, with 5 units designated as low-income. The 2022 population of 7,625 and estimated 2,921 housing units in the zip code indicate that LIHTC funded affordable housing comprises approximately 0.79% of the estimated housing inventory.
The LIHTC program has invested $400,425 in project tax credits for affordable housing in zip code 62626. This equates to an average federal funding of $17,410 per unit. Zip code 62626 accounts for 0.05% of the total LIHTC funding allocated to Illinois.
Affordable housing has been present in zip code 62626 since 1993, with the most recent project completed in 1998. The 1990s saw the most significant development of LIHTC funded affordable housing in this area. Two notable projects in this zip code are Carlinville Heights Apts, completed in 1993, and Carlinville Senior Housing, finished in 1998.
The affordable housing inventory in zip code 62626 consists of 8 one-bedroom units and 15 two-bedroom units among the LIHTC funded projects.
Over the past decade, the population in zip code 62626 has remained relatively stable, fluctuating between 7,400 and 7,900 residents. The median income has increased from $53,726 in 2013 to $61,968 in 2022. This rise in median income may indicate a growing need for affordable housing options for lower-income residents.
Racial demographics in zip code 62626 have remained fairly consistent, with the white population comprising 91-93% throughout the past decade. There has been a slight increase in diversity, with small increases in the Hispanic, Black, and multi-racial populations.
The LIHTC program has contributed to the affordable housing inventory in zip code 62626, providing 23 units, of which 5 are designated as low-income. This represents a small percentage of the estimated housing inventory. The zip code has seen stable population levels and increasing median income over the past decade, which could influence the demand for affordable housing. The racial composition has remained predominantly white, with slight increases in diversity. These demographic trends, combined with the LIHTC funded housing stock, provide a snapshot of the affordable housing landscape in zip code 62626.
