Loading Content...
Affordable Housing in Zip Code 60193: Emerald Village's Long-standing Contribution
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
Loading Content...
Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 60193 in Schaumburg, Illinois, contains 97 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. These units, all designated as low-income, represent approximately 0.63% of the estimated 15,495 housing units in the zip code.
The LIHTC program has allocated $791,353 in tax credits to zip code 60193 for affordable housing development. This allocation averages $8,158 per unit in federal funding. The zip code accounts for 0.1% of the total LIHTC funding in Illinois, indicating a small but notable contribution to the state's affordable housing initiatives.
The affordable housing in this zip code is concentrated in a single project, Emerald Village, completed in 1997. For over two decades, this project has provided affordable housing options in the area. Emerald Village offers a mix of unit types, consisting of 64 one-bedroom units and 33 two-bedroom units, catering to smaller households and families.
Zip code 60193 has experienced demographic changes over the past decade. The population in 2022 was 40,441 residents. The median income increased from $83,535 in 2013 to $87,055 in 2022, indicating a gradual improvement in economic conditions.
Racial demographics in the zip code have shifted. The white population decreased from 71% in 2013 to 65% in 2022. The Hispanic population increased from 8% to 15% during the same period. The Asian population remained relatively stable, ranging between 14-17% throughout the decade.
Zip code 60193 in Schaumburg presents a distinct affordable housing landscape with Emerald Village providing 97 low-income units. While this represents a small percentage of the estimated housing stock, it has maintained a consistent presence since 1997. The area has experienced demographic shifts over the past decade, including increased diversity and fluctuations in median income, which may influence future affordable housing needs. The LIHTC program's investment in this zip code, although modest compared to the state total, plays a significant role in providing affordable housing options for the local community.
