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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Zip code 60201 in Evanston, Illinois, contains 100 Low-Income Housing Tax Credit (LIHTC) funded affordable housing units. These units, all designated as low-income, represent approximately 0.65% of the estimated 15,433 housing units in the zip code, based on the 2022 population of 40,281.
The LIHTC projects in zip code 60201 have received $959,013 in project tax credits, averaging $9,590 per unit in federal funding. This amount constitutes 0.12% of the total LIHTC funding allocated to Illinois. Affordable housing has been present in this zip code for over three decades, with the first LIHTC project, Wesley-Greenbay, completed in 1989 and the most recent, Emerson Square, finished in 2014.
The affordable housing inventory in zip code 60201 consists of 48 efficiencies, 3 one-bedroom units, 33 two-bedroom units, and 7 three-bedroom units. This distribution caters to various household sizes and needs within the low-income population.
Over the past decade, the population in zip code 60201 has remained relatively stable, fluctuating between 38,000 and 40,500 residents. The median income has shown an overall upward trend, increasing from $83,608 in 2013 to $95,203 in 2022, with some fluctuations in between. This rise in median income might suggest a growing need for affordable housing options to maintain economic diversity in the area.
Racial demographics in zip code 60201 have remained fairly consistent. The white population has comprised about 62-63% of residents in recent years. The Black population has stayed around 13-14%, while the Asian and Hispanic populations have each maintained approximately 10% of the total. This stability in racial composition indicates that the LIHTC projects have been operating in a demographically consistent environment.
Zip code 60201 in Evanston, Illinois, has a modest LIHTC-funded affordable housing presence, covering less than 1% of the estimated housing inventory. The area has seen LIHTC projects developed over a span of 25 years, with the most recent addition in 2014. The diverse mix of unit types suggests an effort to accommodate various household sizes within the low-income population. While the median income has risen over the past decade, the racial demographics have remained stable, potentially indicating an ongoing need for affordable housing options to maintain community diversity and economic inclusion.