Loading Content...
Affordable Housing in Zip Code 60101: LIHTC Investments and Demographic Trends
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 60101, located in Addison, Illinois, contains 382 units of Low-Income Housing Tax Credit (LIHTC) funded affordable housing, with 181 designated as low-income units. Based on the 2022 population of 37,716 and the national average household size of 2.61, the estimated housing inventory is approximately 14,451 units. LIHTC funded affordable housing represents about 2.6% of this inventory.
The LIHTC program has invested $998,109 in tax credits in this zip code, averaging $2,613 per unit in LIHTC funded projects. This investment accounts for 0.12% of the total LIHTC funding allocated to Illinois. The first LIHTC project, College Park Apartments, was completed in 2004, and the most recent, Indian Trail Apartments, in 2006.
The LIHTC funded housing in zip code 60101 offers a range of unit types: 122 one-bedroom, 232 two-bedroom, and 28 three-bedroom units. This distribution accommodates various household sizes, with an emphasis on smaller families or individuals.
Demographic trends over the last decade show a gradual population decline, from 41,133 in 2015 to 37,716 in 2022. Despite this decrease, the median income has risen overall, from $64,654 in 2015 to $69,802 in 2022, with some fluctuations.
Racial demographics have remained relatively stable. The Hispanic population has consistently represented around 39-40% of the total, while the white population has slightly decreased from 50% to 47%. The Asian population has grown from 6% to 9% between 2013 and 2022.
In conclusion, zip code 60101 has a modest but significant LIHTC funded affordable housing presence, comprising about 2.6% of the estimated housing inventory. LIHTC investments span nearly two decades, offering diverse unit types. The area has experienced a slight population decline, generally increased median income, and relatively stable racial demographics, indicating ongoing affordable housing needs in a changing community.
