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Affordable Housing Impact in Zip Code 62830: LIHTC Program's Significant Presence in Rural 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 62830 in Dix, Illinois, contains a significant amount of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area has 95 total affordable units, all of which are low-income units. Based on the 2022 population of 1,420 and an estimated 544 housing units in the zip code, LIHTC-funded affordable housing comprises approximately 17.5% of the estimated housing inventory. This percentage is consistent with the target range for affordable housing stock in a balanced community.
The LIHTC program has invested $2,593,568 in tax credits in this zip code. This equates to an average federal funding of $27,301 per unit. Zip code 62830 accounts for 0.32% of the total LIHTC funding allocated to Illinois, indicating a substantial investment in affordable housing for this rural area.
The affordable housing in this zip code consists of a single project, Rome Meadows, completed in 2008. This project has provided affordable housing options to the community for over a decade. Rome Meadows primarily consists of one-bedroom apartments, with 94 such units, and one two-bedroom unit, suggesting a focus on housing for individuals or small families.
Demographic trends in zip code 62830 have shown some changes over the past decade. The population has remained relatively stable, decreasing slightly from 1,464 in 2014 to 1,420 in 2022. Median income has fluctuated, rising from $42,037 in 2014 to a peak of $57,299 in 2021, before settling at $48,325 in 2022. This income volatility may indicate an ongoing need for affordable housing options.
Racial demographics have remained predominantly white, with a small increase in diversity. The percentage of white residents decreased from 95% in 2014 to 91% in 2022, with small increases in other racial categories, particularly those identifying as two or more races (from 2% to 5%).
The LIHTC program has significantly impacted the affordable housing landscape in zip code 62830. With 95 low-income units, the program provides housing options for approximately 17.5% of the estimated housing inventory, aligning with affordable housing targets. The federal investment of over $2.5 million demonstrates a commitment to addressing housing needs in this rural Illinois community. While demographic trends show a relatively stable population with some income volatility, the continued presence of LIHTC-funded housing suggests an ongoing need for affordable options in the area. The predominance of one-bedroom units in the Rome Meadows project indicates a focus on housing for individuals or small households, which may reflect the specific needs of this community.
