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Affordable Housing in Zip Code 60142: Three Decades of LIHTC Investments in Huntley, 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 60142, located in Huntley, Illinois, contains 152 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. This zip code covers 41.17 square miles and had a population of 31,244 in 2022. Based on the national average household size of 2.61, there are approximately 11,971 housing units in the zip code. The LIHTC funded affordable housing represents about 1.27% of the estimated housing inventory in this area.
The LIHTC program has invested $644,414 in project tax credits in this zip code. This equates to an average federal funding of $4,239 per affordable unit. Zip code 60142 accounts for 0.08% of the total LIHTC funding allocated to Illinois.
Affordable housing has been present in this community for over thirty years. The first LIHTC project, Parkview (Huntley), was completed in 1987, and the most recent project, Deer Path Of Huntley, was finished in 2013. The 2010s saw the largest addition to the affordable housing stock in this zip code.
The affordable housing inventory in this area consists of 44 efficiency units, 79 one-bedroom units, 17 two-bedroom units, and 12 three-bedroom units. This distribution indicates a focus on accommodating smaller households and individuals.
The zip code experienced population growth from 25,158 in 2010 to 31,244 in 2022. The median income reached $90,665 in 2022. Despite the area's relative affluence, the presence of LIHTC projects indicates a recognized need for affordable housing options.
The racial composition of the zip code has remained relatively stable. The white population decreased slightly from 82% in 2013 to 79% in 2022. There has been a small increase in diversity, with modest growth in Asian, Black, and Hispanic populations. This gradual diversification may correlate with the development of affordable housing options in the area.
Zip code 60142 in Huntley, Illinois, has a small but significant LIHTC funded affordable housing presence. The area has received federal investment through the LIHTC program, with projects spanning over three decades. The housing mix caters to various household sizes, with a focus on smaller units. While the zip code maintains a high median income, the presence of affordable housing suggests an ongoing commitment to providing diverse housing options for residents across different income levels. The gradual increase in population and slight diversification of the racial composition over the past decade aligns with the development of these affordable housing projects.
